Economy 2024-03-15T05:19:29+02:00
Ukrainian news
EIB Transfers Additional EUR 550 Million To Ukraine For Energy Infrastructure Restoration - Shmyhal

EIB Transfers Additional EUR 550 Million To Ukraine For Energy Infrastructure Restoration - Shmyhal

EIB, European Investment Bank

The European Investment Bank has transferred an additional EUR 550 million to Ukraine for the restoration of energy infrastructure.

Prime Minister Denys Shmyhal announced this on the Telegram channel, Ukrainian News Agency reports.

"The European Union together with the EIB will help Ukraine in restoring energy infrastructure. Today, the European Investment Bank transferred an additional EUR 550 million to our country. The funds will help, in particular, to cover the costs of repairing damaged energy infrastructure facilities and maintain the stability of the Ukrainian electricity grid. Also, the assistance will be aimed at restoring the provision of municipal and basic services to the population in communities," he wrote.

The Prime Minister noted that in a total of two months, within the framework of the Emergency Support Package from the EIB and the European Commission, Ukraine received EUR 1.05 billion.

Another EUR 540 million will be paid by restoring funding for joint projects.

Shmyhal thanked the European Investment Bank and the European Commission for their consistent support.

He added that Ukraine expects that the EIB and the EU will be one of the leaders in the large-scale post-war reconstruction, economic recovery and financing of the country's infrastructure development.

As Ukrainian News Agency earlier reported, on September 14, Ukraine received the first EUR 500 million from the EIB as part of an immediate assistance package to finance infrastructure restoration and other priority needs.

The funds are part of a second EUR 1.59 billion aid package from the EIB, developed in collaboration with the European Commission.

This financial assistance is guaranteed by the EU under the External Lending Mandate and complements the emergency financial support for Ukraine in the amount of EUR 668 million, which was provided to Ukraine by the EIB in early March 2022.

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