The European Investment Bank (EIB) is providing EUR 1.59 billion, which is supported by guarantees from the EU budget, to help Ukraine repair the most essential damaged infrastructure, the CFTS portal reports, citing the Interfax Ukraine news agency.
The funds are intended to help essential services to resume and get the most critical infrastructure up and running again. In addition, they are intended for supporting future energy, transport, and education projects.
This is the second relief package under the EIB Ukraine solidarity response, and it is supported by guarantees from the EU budget. It is divided into two parts.
The first part is immediate financial assistance totaling EUR 1.05 billion. "It 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," the bank said in a statement.
The second part is EUR 540 million for resuming the implementation of EIB-financed projects in Ukraine where possible. The selected projects will cover energy, energy efficiency, roads, transport, education, and infrastructure, as well as reconstruction and recovery programs. The exact timing of these disbursements will depend on the state of advancement of underlying projects.
