IFC and EU will issue EUR 25 mln to Ukrainian cities to modernize housing for IDPs
The International Finance Corporation (IFC) will provide several Ukrainian cities with a EUR 25 million grant from the European Union to upgrade municipal buildings to accommodate internally displaced persons (IDPs), starting with Lviv.
According to the press service of the IFC, the partnership will reduce pressure on the provision of public services in cities.
"Since Russia's full-scale invasion of Ukraine, we have welcomed thousands of people fleeing the war who have decided to stay temporarily in Lviv, and we are doing everything we can to make them feel as comfortable as possible. But there are many who need additional support. Today's partnership will help us address that challenge and increase both the quality and quantity of care we are able to provide," said Lviv Mayor Andriy Sadovy.
Thus, as of September 2022, there are about 245,000 internally displaced persons in Lviv.
The selection of buildings for modernization will be carried out according to a number of criteria, including high-quality connection to engineering networks and the proximity of social infrastructure: public transport, schools, medical facilities.
"According to the Rapid Damage and Needs Assessment, prepared by Ukraine's government, the European Commission, and the World Bank, the total damage to the housing sector as of June 1 is estimated at $39.2 billion. The recovery and reconstruction needs amount to $69 billion, with nearly $33 billion needed in the immediate term, especially to address the needs for winter," the IFC said.
"IFC is also finalizing its Ukraine War Response Platform, which will support projects in Ukraine, leveraging blended finance. It will prioritize investments to support business preservation, displaced people and affected municipalities, and immediate logistics and energy needs. It will also support activities to help prepare for the reconstruction. As the largest private sector investor in emerging markets, IFC is well positioned to support the leveraging of private capital for Ukraine's reconstruction," the corporation said on its website.
