Ukraine to receive EUR 640 mln from EIB for implementation of priority projects in infrastructure and transport

Ukraine to receive EUR 640 mln from EIB for implementation of priority projects in infrastructure and transport

 The European Investment Bank (EIB) and the Ukrainian government have signed three loan agreements totaling EUR 640 million to implement priority infrastructure and transport projects.

The EIB is one of the key partners of Ukraine, with which the country has been cooperating since 2007, the Ministry of Infrastructure of Ukraine said on its website on Wednesday.

“Today, three loan agreements have been concluded with the bank, according to which Ukraine will receive EUR 640 million for improving infrastructure in the eastern region, updating the road network of Luhansk region, as well as purchasing electric public transport in almost 20 Ukrainian cities. I am grateful to our permanent partners from the EIB for all-round cooperation and assistance to Ukraine. Keep working,” Minister of Infrastructure Vladyslav Krykliy commented on the signing of the agreements.

Of the amount indicated by the minister, EUR 340 million will be used to restore and improve key social and transport infrastructure in the eastern region.

“These are schools, kindergartens, hospitals, post offices, street lighting, sewerage systems, as well as public transport and the corresponding infrastructure for it. As a result, such changes will benefit about 14 million Ukrainians living in these territories,” the ministry said.

Another EUR 100 million loan will be provided by the EIB for the restoration of the road network of Luhansk region, namely for the implementation of repair work on two sections of the P-66 highway checkpoint Demyno-Oleksandrivka-Svatove-Lysychansk-Luhansk within the framework of the project “Eastern Ukraine: reunification, restoration and revival”(project 3B).

In addition, EUR 200 million from the EIB will go to the implementation of the Urban Public Transport of Ukraine II project, which provides for the purchase of exclusively electric public transport: trams, trolleybuses, electric buses, metro cars, as well as the construction and renovation of tram and trolleybus lines, replacement of traction substations.

“Eighteen cities participating in the project have already been preliminarily identified: Severodonetsk, Vinnytsia, Uzhgorod, Cherkasy, Kremenchuk, Bila Tserkva, Melitopol, Kamyanske, Khmelntsky, Ternopil, Kryvyi Rih, Dnipro, Lutsk, Zaporizhia, Lviv, Poltava, Odesa and Chernivtsi,” the ministry noted.

The European Investment Bank (EIB) is a long-term lending organization owned by the member states of the European Union. The EIB provides financing for reliable and sustainable investment projects that contribute to the achievement of EU policy objectives. Among the Eastern Partnership countries, Ukraine is the main recipient country of the EIB, accounting for approximately 50% of its lending activities. The EIB now has a portfolio of loans and guarantees totaling EUR 6.83 billion for Ukraine.

(C)INTERFAX UKRAINE 2020

3 comments

  • “EU disburses €600 million in macro-financial assistance to Ukraine

    The European Commission, on behalf of the EU, has today disbursed €600 million to Ukraine under its COVID-19 related macro-financial assistance (MFA) programme. Ukraine is the seventh country to receive a disbursement from the €3 billion emergency MFA package for ten enlargement and neighbourhood partners, which aims to help them limit the economic fallout of the coronavirus pandemic. This disbursement will contribute to macro-financial stability in Ukraine while allowing it to allocate resources towards mitigating the severe negative socio-economic consequences of the coronavirus pandemic. It represents a tangible demonstration of EU solidarity with its neighbour and partner.”
    https://ec.europa.eu/commission/presscorner/detail/en/mex_20_2357

    Liked by 1 person

  • Why is Ukraine getting any money at all with corruption and pro-Ruskie sentiments on the rise in the government? This is sending the wrong signal. Europe should for once start thinking more. They are supporting graft and are wasting money because much of this 600 million Euros will disappear into dark channels. Fools!

    Liked by 2 people

    • I agree, the fight against corruption in Ukraine is a joke. Even if it was a slow walk against corruption during Porosjenko’s
      presidency, they made some progress, now it’s going the other way.

      Liked by 1 person

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