The European Investment Bank (EIB) will provide Ukraine with a 200 million euro loan earmarked for the country's restoration, in line with legislation signed by President Petro Poroshenko.
“Under the Financial Agreement, the EIB will provide 200 million euro loan to Ukraine for the implementation of a series of measures in 2015-2020 aimed at overcoming negative consequences of geopolitical events in eastern regions of the country. The measures are, inter alia, the following: support to the IDPs [internally displaced persons] [and the] restoration of main infrastructure facilities in the territory of [the] Donetsk and Luhansk Oblasts controlled by the Ukrainian authorities,” the Ukrainian presidential website reported on May 12.
The loan will be issued in the form of tranches varying in size from 15 million euro to 40 million euro. The money is to be spent mainly on restoring infrastructure, improving the quality of utility services, and repairing highways, railways, bridges, and damaged administrative buildings.
“The Project also provides for the implementation of a series of infrastructure projects in [the] Zaporizhia, Dnipropetrovsk and Kharkiv Oblasts and the establishment of conditions for the return of IDPs to the places of their previous residence,” the report says.
Ukrainian Prime Minister Arseniy Yatsenyuk and EIB Vice President Laszlo Baranyay had signed the Financial Agreement in Kyiv on Dec. 22, 2014.
