The European Investment Bank (EIB) has approved 340 million euros (about 402.2 million U.S. dollars) loan under the Restoration Program and 100 million euros (about 118.3 million U.S. dollars) for the development of roads in the Luhansk region, the bank’s press service said on Thursday.
Fundings under the Reconstruction Program should help to create and reconstruct administrative buildings, schools, health centers and hospitals, public roads and bridges, and the supply of public services in Ukraine.
The program, in particular, is focused on infrastructure located in the governmentally controlled areas of Eastern Ukraine to help these areas cope with the influx of internally displaced persons.
The road development project tackles regional roads in the Luhansk region. In total, within the framework of the project, about 183 km of public highways of state importance in the Luhansk region will be renewed.
Between 2007 and 2019, EIB implemented projects in Ukraine for a total of approximately 6 billion euros (about 7 billion U.S. dollars), while last year, EIB financed projects worth 540 million euros (about 640 million U.S. dollars).