The European Investment Bank (EIB) is going to allocate 640 million euros to Ukraine for the development of infrastructure and transport in the country. Prime Minister of Ukraine Denys Shmygal wrote about this on his Telegram channel.
“Today, three relevant loan agreements were signed with the EIB,” he noted.
Each of them envisages the following stipulations:
- 340 million euros - to restore infrastructure and improve living and doing business in the regions of eastern Ukraine affected by the military conflict.
- 200 million euros - to improve the quality and reliability of public transport in almost 20 Ukrainian cities.
- 100 million euros - for the modernization of 183 km of roads in the Luhansk region.
He added that these funds would help Ukraine improve its economy and sustainable society, particularly in the eastern regions of the country.
As we reported earlier, the European Union has allocated 600 million euros of macro-financial aid to Ukraine.
“This disbursement will contribute to macro-financial stability in Ukraine while allowing it to allocate resources towards mitigating the severe negative socio-economic consequences of the coronavirus pandemic,” reads the message.