KYIV, Nov 2 – The European Investment Bank (EIB) will provide EUR 450 million to Ukraine for two recovery projects, the first two tranches of EUR 100 million can be approved before the end of 2023, the press service of the Ministry of Communities, Territories and Infrastructure Development of Ukraine has reported.

The funds with a total budget of EUR 450 million are provided under two projects – Ukraine Recovery III FL and Ukraine Water Recovery FL.

Ukraine Recovery III FL (EUR 250 million, first tranche of EUR 100 million) aims to finance critical social and urban infrastructure. This is about rebuilding infrastructure damaged by Russian aggression and building new basic infrastructure to provide decent living conditions for internally displaced people and host communities.