EIB approves €1.59 bln of EU financial assistance for Ukraine

The EIB, the EU bank, is providing €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 the Ukrainian people.

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 €668 million fully disbursed within a month of the war’s beginning. Like the first one, this new financing is offered at favorable terms including long tenors.

“With this emergency package, as part of Team Europe, we are sending a strong message – the European Union and its Bank remain unshakeable in our solidarity with Ukraine and its people, in its hour of need and the longer-term support of its reconstruction,” Werner Hoyer, EIB President, said.

(WBJ)