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Posted On

07
September
2022

NEFCO to allocate EUR 50 mln to restore Ukraine's critical infrastructure – memo

KYIV. Sept 7 (Interfax-Ukraine) – The Ministry of Communities and Territories Development of Ukraine has signed a memorandum of cooperation with the Nordic Environment Finance Corporation (NEFCO) to allocate EUR 50 million to restore the country’s critical infrastructure that suffered due to Russian military aggression.

"The memorandum will provide access to NEFCO programs and funding of EUR 50 million to restore the life support systems of communities – water and heat. These funds were allocated by the European Union under the EU Emergency Support Instrument," Minister for Communities and Territories Development Oleksiy Chernyshov is quoted in a press release.

At the same time, it is planned to further expand the program to EUR 200 million at the expense of other donors, the Ministry of Communities and Territories Development said. The funds will be directed to housing for internally displaced persons and the restoration of social infrastructure – educational, medical institutions, facilities for the provision of administrative services.

NEFCO is an international financial institution funding the expansion of Nordic green solutions in global markets. It was founded in 1990 by Denmark, Finland, Iceland, Norway and Sweden.