European Investment Bank finances the modernisation of four Odessa schools and one hospital

A number of social facilities in Odessa to be modernised thanks to the European Investment Bank (EIB) loan as part of an emergency credit programme for the restoration of Ukraine.

This plan was announced during a meeting of the city leadership with the Project Manager of the United Nations Development Program (UNDP) in Ukraine Igor Kistenyov-Kavkazsky, (press service of the mayor’s office).

The programme is aimed at supporting cities that have suffered as a result of the war in eastern Ukraine or have accepted a large number of immigrants. The funds are administered by the Ministry of Community and Regional Development of Ukraine.

The objects must be completed by June 1, 2021.

In Odessa, the EIB is providing a loan the comprehensive modernisation of schools No. 41 on Michurin Square, No. 31 on Gastello, No. 39 on Uspenskaya, and No. 49 on David Oistrakh, as well as hospital buildings No. 8 on Fontanskaya road. Funds are allocated on the basis of co-financing from the local budget.

Modernisation includes both external and internal work: renovation and insulation of facades, replacement of engineering networks, creation of conditions for people with disabilities, renovation of sports infrastructure.

It is worth noting that after the start of the war, Odessa received more than 30 thousand internally displaced persons.

The European Investment Bank (EIB) is the European Union’s bank. It is a long-term lending institution of the EU and is the only bank owned by and representing the interests of the European Union Member States. The EIB has been working in Ukraine since 2007. As of September 2019, the total EIB portfolio in Ukraine was EUR 5.9 billion for projects in energy, transport, environment and support for local government and private sector.

UNDP is the development arm of the United Nations. It has been working in Ukraine since 1993. Among other things, UNDP is helping to restore critically important social and economic infrastructure and the effective work of local governments in eastern Ukraine; creating jobs and spurring entrepreneurship among IDPs and host communities; and promoting peace and reconciliation.

Source: United Nations Development Programme in Ukraine

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