EIB approves €1.59 billion of EU financial aid to Ukraine

The European Investment Bank (EIB) approved the provision of 1.59 billion euros for Ukraine, supported by guarantees from the EU budget. This aid to Ukraine is aimed at rebuilding critical infrastructure and supporting important projects aimed at addressing the urgent needs of Ukrainians.

This is the second relief package for Ukraine under EIB Ukraine solidarity urgent response developed in close cooperation with the European Commission. In early March 2022 EIB provided the first package of financial support totalling €668 million. The relief package is to strengthen the country’s resilience and maintain economic stability.

Aid consists of two blocks:
– Immediate financial aid totalling €1.05 billion that will help the Ukrainian government to cover priority short-term financing needs, provide support to strategic state-owned companies, ensure urgent repairs of damaged infrastructure, resume the provision of disrupted municipal services, and support urgent energy and energy efficiency measures in preparation for the cold season;

– €540 million will help resume implementation of EIB-financed projects in Ukraine in such areas as energy, energy efficiency, transport, education and infrastructure, as well as reconstruction and recovery programs.

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