In March 2023, the European Investment Bank approved the EU4Ukraine initiative with a budget of €1 billion, within which Ukraine can count on several aid and information support packages. Now the European Commission, with the help of the European Fund for Sustainable Investment Plus, the Neighbourhood Development and International Cooperation – Global Europe, plans to provide Ukraine with guarantees for obtaining urgent credit support for €100 million.
"...the agreed EU guarantee allows EIB to lend to Ukraine an additional €100 million on very favourable terms. We are determined to bring back life to all the communities in Ukraine that suffer from Russia's aggression," Ursula von der Leyen.
"Ukraine cannot wait. Investments are needed today to keep the economy of Ukraine running, repel Russia and bring the EU and Ukraine closer together. The cooperation with the European Commission is vital for the EIB to operate in Ukraine as the EU Bank and deliver on the EU commitments. The guarantee will enable us to provide €100 million of long-term financing and will enhance the impact of our Initiative, which we are implementing with a strong pipeline of projects also under the EU4Ukraine Fund and technical assistance. We will help Ukraine rebuild and restore essential services, enable businesses to invest and survive, and support the path towards EU accession," Werner Hoyer, president of the European Investment Bank.
