€1.59 Bln for the Reconstruction of Ukraine From the EU

by Olha Povaliaieva
Monday, July 25, 2022
€1.59 Bln for the Reconstruction of Ukraine From the EU

On July 25, the European Investment Bank announced the allocation of €1.59 billion for the urgent restoration of Ukraine's critical infrastructure

Today, the European Commission made a statement regarding the allocation of €1.59 bln to cover the urgent needs of the Ukrainian population for the infrastructural integrity of Ukraine (housing, electricity networks, etc.). The amount will be allocated as part of the EIB Ukraine Solidarity program through the European Investment Bank. This is already the second package within the framework of urgent aid to Ukraine. The first package for €668 million was shown to Ukraine in March.

"The second aid package within the EIB's solidarity measures in Ukraine will help restore the operation of basic services and launch the most important infrastructure, strengthen the country's resilience and preserve economic stability," European Commission.

€1.59 billion will be divided into 2 parts: €1.05 billion will be immediately transferred to the restoration of infrastructure and the implementation of energy projects, €540 million will be transferred to the performance of EIB plans in the areas of energy of Ukraine, roads, energy efficiency, reconstruction of critical infrastructure, etc.

You will be interested