Ukraine will get the funding from German state-owned development bank KfW, Prime Minister Denys Shmyhal announced on Nov. 24.
The money will be allocated to two regional capitals, Zhytomyr and Zaporizhia. Each municipality will have a 2% interest rate on the loan with a grace period of 10 years. The loan also comes with a 1 million euro grant.
The project aims to modernize 1,000 public buildings including schools, kindergartens and healthcare facilities to reduce heat consumption.