European Investment Bank allocated 400 mln EUR to support the municipal infrastructure in Ukraine
The European Investment Bank’s (EIB) loan will finance protecting, rehabilitating and avoiding deterioration of municipal infrastructure
EIB funds are to support some 25 to 40 projects fostering substantial improvements in energy efficiency. 400 mln EUR will go for district heating, energy efficiency in public buildings, municipal lighting and will contribute to Ukraine’s energy security, reduction of water losses, improvements of solid waste management services and of safety and quality of municipal services provided.
The total period of the loan payoff for the heat supply modernization project is 22 years, and for the water supply projects is 30 years. Interest rate is 2%.
“EIB created unprecedented conditions to attract long and cheap money, which is extremely important in terms of limited budget capabilities. Through the implementation of this Agreement, we can change the quality of services for the population and upgrade the outdated infrastructure,” stated the Minister of Regional Development Hennadiy Zubko.
EIB Vice-President László Baranyay, responsible for lending operations in Ukraine, commented: “The current project is in line with the commitment of the EU Bank to support Ukraine and its people. Modern and reliable municipal infrastructure will contribute to the increase of the quality of life of people living in Ukrainian cities. It will help to save energy, provide better and more economical services and help to protect environment”.
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