The European Investment Bank (EIB) has approved two loans for Ukraine: a loan of EUR 340 million for financing the Ukraine Recovery Program and a loan of EUR 100 million for financing the Eastern Ukraine Road Connectivity project, which is for development of roads in the Luhansk region.

This was reported by the CFTS portal, citing the Interfax Ukraine news agency.

According to the EIB, the aim of the Ukraine Recovery Program focuses on creating, restoring, and improving public buildings (including administrative buildings, schools, medical centers and hospitals, and other social infrastructure); government roads and bridges; supply of utilities (water supply and sewerage) in the Donetsk and Luhansk oblasts under the control of the Ukrainian government as well as the four surrounding regions (Kharkiv, Dnipropetrovsk, Zaporizhia, and Kherson) and city councils in other regions countrywide to enable them to cope with the impacts of a heavy influx of internally displaced people.

The investment loan for the Eastern Ukraine Road Connectivity project is intended to support investment in the reconstruction of the regional roads T-13-02 (Taniushivka checkpoint – Starobilsk – Bakhmut) and R-66 (Demyno-Oleksandrivka checkpoint – Svatove – Lysychansk) in the Luhansk region, therefore improving regional connectivity and strengthening the agricultural value chain due to improvements in the associated road infrastructure. 

According to data from the EIB, the total cost of reconstruction of these roads is EUR 160 million.