The full-scale Russian invasion of Ukraine has had a profound impact on the country’s socio-economic development. Enormous damage inflicted on critical infrastructure, industry, and citizens’ housing is estimated in billions of U.S. dollars. Despite ongoing hostilities, the process of Ukraine’s recovery has long been underway.

The Ukraine Early Recovery Project (UERP), launched by the EIB in 2014, provided a long-term loan of EUR 200 million for the restoration of social and critical infrastructure in regions affected by the war and hosting the largest numbers of internally displaced persons (IDPs). The program covered housing modernization, reconstruction of public buildings, renewal of utility networks, and transport infrastructure. Although the initial term ended in 2020, due to large-scale destruction and new stages of the war, the program has evolved into a long-term recovery instrument that remains effective to this day.

The Ukraine Recovery Program (URP) envisages the mobilization of EUR 340 million in EIB loan resources to restore social infrastructure, housing stock, and public utility facilities in affected regions and communities with the highest influx of IDPs. The main directions of the program include housing reconstruction, rehabilitation of social facilities, restoration of critical utility networks, modernization of transport infrastructure, and the implementation of energy-efficient and “green” solutions.