EIB can provide about €220 million to restore Ukraine’s infrastructure

The funds will be allocated for the reconstruction of roads and bridges

The European Investment Bank (EIB) can provide about €220 million for the restoration of Ukrainian infrastructure – the funds will go to the reconstruction of bridges and roads. It is stated in the message of the State Agency for Reconstruction and Development of Infrastructure of Ukraine.

The head of the State Agency, Mustafa Nayem, and the head of the project management group, Vadym Nozdrya, met with representatives of the EIB to discuss financing for the restoration of critical infrastructure. The meeting discussed progress in the implementation of joint projects, in particular, the project for the development of the trans-European transport network, which concerns the construction and repair of roads in six regions of Ukraine.

According to the agreement signed in June 2023, the EIB provided more than €50 million of EU grant funds available within the framework of the European Union’s Neighborhood Investment Platform (NIP) for the purchase of modular bridges – temporary structures for the regions most affected by Russian aggression. They will improve logistics between settlements and regions.

As the agency reported, in addition to the EIB, which is one of Ukraine’s key international partners in the restoration of critical infrastructure, the State Agency cooperates with the World Bank, USAID, and the European Bank for Reconstruction and Development in four priority areas, including border checkpoints and roads them.

As GMK Center reported earlier, the EBRD forecasts continued investment to Ukraine at the level of about €1.5 billion ($1.6 billion) per year in the next two years. The amount may increase, for example, under conditions of acceleration of reconstruction, but there is still an urgent need to support the country after the invasion of the Russian Federation, especially the energy sector and infrastructure.

Also, the European Bank for Reconstruction and Development will provide €182 million for overhaul of the section of the Lviv-Rava-Ruska highway on the border of Ukraine and Poland. Modernization of the highway will improve transport connections between Ukraine and the EU.