The EIB will allocate €450M to Ukraine for two recovery projects.

The first two tranches from the European Investment Bank for €100M of the planned total of €450M may be approved by the end of 2023. The funds will be directed to two projects:

1. Ukraine Recovery III FL (€250M, first tranche is €100M): aimed at financing critically important social and urban infrastructure damaged by Russian aggression.
2. Ukraine Water Recovery FL (€200M, first tranche is €100M): aimed at financing investment in critical water infrastructure in areas directly affected by the war or where many IDPs live, including those suffering the consequences of the Kakhovka dam disaster.

Money from the EIB is allocated within the framework of cooperation with Ukraine, the principles of which are laid down in a memorandum that allocates about €840M in credit funds toward implementing priority Ukrainian infrastructure restoration projects.