The Cabinet of Ministers has approved a resolution that opens the possibility for the distribution and use of the second tranche of financial assistance from the European Investment Bank (EIB) amounting to €100 million. For the first time, these funds will be provided under the guarantees of the Ukraine Facility financial instrument, which operates within the support framework of the European Union.
This is reported by Business • Media
Funding for the Restoration of Social and Critical Infrastructure
It is planned that the received funds will be directed towards the implementation of projects for the restoration of social and critical infrastructure facilities that have been damaged due to the war. Key areas for the use of funds include the repair and modernization of schools, kindergartens, hospitals, medical institutions, as well as residential and communal facilities.
The total funding volume under the Ukraine Recovery Program III amounts to €250 million. The first tranche of €100 million was ratified in August of last year.
Over 730 Million Hryvnias for Kyiv Region
In addition to the funding from the EIB, the government has decided to allocate over 730 million hryvnias to complete reconstruction projects in the Kyiv region. In particular, funding will be provided to the Kyiv Regional Military Administration, as well as the Bucha and Irpin city communities. The funds will be allocated from the remaining balance of the Fund for the Elimination of the Consequences of Armed Aggression.
The money will allow for the completion of 30 restoration projects in the region, including 21 residential buildings, six educational institutions, two civil protection facilities, and one healthcare facility.