UNDP raises $1.2B worth of grants, loans for Ukraine's rebuilding

UNDP raises $1.2B worth of grants, loans for Ukraine's rebuilding

The United Nations Development Program (UNDP) has already generated $360 million worth of grants and about $840 million worth of loans for the rebuilding of Ukraine.

UNDP Resident Representative in Ukraine Jaco Cilliers said this in an interview with Ukrinform.

"UNDP has already generated over $360 million of grant investment funding. That includes a considerable amount of bilateral investment from grant funding and support, which is vital for the country's rebuilding," Cilliers said.

He added that UNDP also works with international finance institutions in leveraging loans and works closely with helping the government access these loans.

"We have generated about $840 million worth of loans that the government uses mainly for energy efficiency and social infrastructure efforts that we have helped — schools, hospitals, water sewage treatment plants, cultural centers, and other sports facilities. We do not just help with the rebuilding of Ukraine. The quality of the investment and how the funds are invested for us and Ukraine's rebuilding is as crucial as the amount of money," he said.

Cilliers noted that this is a long-term plan in terms of investment and added that UNDP would continue to increase investments and funding in the coming years.

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