THE CABINET OF MINISTERS HAS AGREED TO THE ATTRACTION OF US 100 MILLION FROM THE IBRD FOR THE IMPLEMENTATION OF THE 3R PROJECT
Cabinet of Ministers at its meeting on September 2, 2020 agreed to the attraction of loan worth US 100 million from the International Bank for Reconstruction and Development (IBRD) for the project "Eastern Ukraine: Reunification, Reconstruction and Revival" (3R) and determined the composition of the Ukrainian delegation to participate in negotiations with the bank.
The Government authorized Deputy Prime Minister of Ukraine, Minister for Reintegration of the Temporary Occupied Territories Oleksii Reznikov to sign a loan agreement with the IBRD.
The project envisages the reconstruction of about 183 km of roads in Luhansk oblast, which are key transport corridors in the region, and attraction of investment to restore agriculture through the implementation of certain agricultural sub-projects aimed at eliminating the consequences of Russia's armed aggression for agriculture in Luhansk oblast, controlled by the Government of Ukraine.
The project aims to increase economic opportunities, cohesion and inclusion in the socio-economic life of the communities adversely affected by Russia’s aggression through attraction of investment in local infrastructure.
Within the framework of the preparation of the project, the Ministry for Reintegration of the Temporary Occupied Territories has developed framework documents on environmental and social management, labour-management procedures, as well as the procedure for expropriation of land and other estate located on them, which will be implemented during the project.
The loan is provided for 27 years at 0.25% per annum, the first 12 years is the credit grace period.