EU grants Ukraine EUR 6 bln for infrastructure projects

Most of the funds have not yet been used, as it is required to make sure that the available funds are invested effectively and for the benefit of the public. REUTERS

REUTERS

Abby Adhimi, EU Project Manager for the “Assistance to Ukrainian Authorities in Improving Infrastructure Project Cycle Management,” says the European Union and its financial institutions have provided Ukraine with EUR 6 billion for infrastructure projects under various programs.

In particular, he said that the European Union, together with its banks, had allocated EUR 6 billion in investment for Ukraine’s infrastructure projects. Most of the funds have not yet been used, as it is required to make sure that the available funds are invested effectively and for the benefit of the public.

The ability to correctly prioritize infrastructure projects to ensure best value for money is the basis of the Action Plan for implementing the Strategy for Infrastructure Project Cycle Management Reform in Ukraine for 2020 – 2024, according to the Ukrainian Infrastructure Ministry’s press service.

As reported, the Strategy and the Action Plan were presented on December 13. “The implementation of the Strategy will improve management of the infrastructure projects’ life cycle, remove obstacles to the effective planning, preparation, and implementation of projects in line with best international and European practices.

Not only will this help Ukraine wisely invest EUR 6 billion, which has already been promised by the European Union, it will also ensure that the infrastructure projects developed meet the highest quality standards,” the press service added.

It is noted that the Infrastructure Ministry recommended that the Cabinet of Ministers adopt a comprehensive Action Plan for implementing the Strategy for Infrastructure Project Cycle Management Reform in Ukraine for 2020 – 2024.

(C)UNIAN 2019

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