EU approves $1.75 billion Ukraine recovery package
European Commission (Photo: REUTERS/Francois Lenoir)
The steering board of EU’s Ukraine Investment Framework
(UIF) platform approved a EUR1.5 billion ($1.75 billion) economic
recovery package, Ukraine’s Development Minister Oleksii Kuleba announced
on March 9.
Kuleba said EUR467 million ($544 million) of the package
will go to projects administered by his ministry. He outlined the allocation as
follows:
- EUR106 million — road and bridge construction and repairs;
- EUR123 million — residential energy efficiency programs;
- EUR26.5 million — construction and repair of bomb shelters;
- EUR132.5 million — maintenance of rail infrastructure;
- EUR68.5 million — upgrading border crossings with EU member
states;
- EUR10 million — additional financing for ongoing projects.
Kuleba also said the European Bank for Reconstruction and Development (EBRD) program includes EUR100 million for projects to decentralize heat and power supply in major cities.
The UIF is part of the EU’s Ukraine Facility, which aims to
mobilize public and private investment for Ukraine’s reconstruction.
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