EIB  Approved Allocation of EUR 1.59 Billion of Financial Assistance For Ukraine

Today, the Board of Directors of the European Investment Bank with the support of the European Commission approved additional financial assistance for Ukraine in the amount of EUR 1.59 billion to finance infrastructure and urgent needs.

This aid package is part of the EIB's Emergency Solidarity Measures with Ukraine, prepared in cooperation with the European Commission. The financing is guaranteed by the EU within the scope of 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.

In the conditions of martial law, the Ministry of Finance of Ukraine and the Government carry out systematic work with international partners to attract resources to finance the priority needs of the State Budget and to restore damaged infrastructure as a result of the criminal actions of Russia.

EUR 1.05 billion will be provided to Ukraine in the near future to finance priority needs.  In particular, the financial resource can be directed to support the financing of priority expenditures of the State Budget of Ukraine aimed at measures to prepare housing and communal facilities for the heating season, restoration and modernization of railway infrastructure, electricity, heating and water supply facilities damaged by hostilities and objects of residential and communal infrastructure, ensuring energy efficiency and energy saving.

"We need strong global support and financial assistance to support Ukraine. I am grateful to the EIB and the European Union for their long-term cooperation, financial support, and solidarity with Ukraine. This EUR 1.59 billion is another significant contribution to financing the urgent needs of our country, which is under unprecedented pressure due to the full-scale invasion of Russia. Thanks to this financial support, we will continue to work on rebuilding the damaged infrastructure, restoring the provision of communal services, in particular transport services, and preparing for the next heating season”, said Minister of Finance Sergii Marchenko.

Another part of the allocated financial aid (EUR 540 million) will be directed at resuming the implementation of EIB-financed projects in Ukraine. Selected projects will cover energy, energy efficiency, roads, transport, education and infrastructure, as well as reconstruction and rehabilitation programs.