The European Investment Bank (EIB) will provide EUR 1.59 billion supported by guarantees from the EU budget, to help Ukraine repair the most essential damaged infrastructure and resume critically important projects addressing the urgent needs of Ukrainian people, the European Commission said on Tuesday.
“This EIB support will keep strategic public sector companies financially viable and able to carry out urgent repairs of critical infrastructure, resume the provision of essential services and address other immediate needs of the Ukrainian people, including those displaced by Russia’s war,” European Commission Executive Vice-President Valdis Dombrovskis said.
He assured that “the European Commission will keep working with EU Member States and our international partners to support Ukraine on every level — for as long as it takes.”
The European Commission said that This is the second package of support for Ukraine under the EIB Ukraine solidarity urgent response developed in close cooperation with the European Commission. It follows an emergency support package of EUR 668 million.
Like the first one, this new financing is offered at favourable terms including long tenors.
The bank will immediately disburse 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.
Another EUR 540 million will be used to resume 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 programmes, the European Commission said.
