Deputy PM Kubrakov, international banks discuss financing of Ukraine’s recovery projects

The relevant statement was made by the Ukrainian Communities, Territories and Infrastructure Development Ministry, an Ukrinform correspondent reports.

“Several practical meetings with leading international banks, such as the Council of Europe Development Bank, the World Bank, the European Investment Bank. The agenda includes the financing of priority recovery projects, such as housing, critical and social infrastructure, attracting investment in the development of Ukraine’s economy, and the renovation of the transport sector,” the report states.

In cooperation with the Council of Europe Development Bank, the Ukrainian side is considering several joint projects related to housing restoration. In particular, the bank praised the program providing compensation for the destroyed homes and considers the possibility of joining the efforts to further finance it.

“We are talking about EUR 100 million with the possibility of increasing it. There are also two additional projects planned: the renovation of apartment blocks and affordable mortgage loans for the internally displaced persons,” Kubrakov noted.

Together with the World Bank, Ukraine is working on housing restoration and transport infrastructure modernization. Last year, with the support of the World Bank, the eVidnovlennia program was launched, and 40,000 Ukrainians had already received financial assistance from the Government for repairs.

Kubrakov expressed confidence that the above project would be further financed this year.

Additionally, the Ukrainian side is focusing on the RELINK project related to the modernization of road and railway routes, as well as ports.

Meanwhile, Ukraine has 13 joint projects at various stages of completion, which are being implemented in cooperation with the European Investment Bank. Two more project proposals are awaiting approval, namely UKRAINE RECOVERY III (related to the restoration of educational, healthcare and critical infrastructure facilities) and UKRAINE WATER RECOVERY (providing the population of Ukraine’s regions with sufficient quality drinking water and proper sewage disposal).

A reminder that the Ukrainian Finance Ministry is actively cooperating with the World Bank and USAID to ensure the monitoring of the targeted use of every dollar of financial assistance provided by the U.S. Government.

Photo: mtu.gov.ua