Ukraine Received €550 Mln From EIB

by Olha Povaliaieva
Wednesday, October 12, 2022
Ukraine Received €550 Mln From EIB

On October 12, the European Investment Bank transferred a macrotranche to Ukraine for the reconstruction of the energy system of Ukraine

Ukrainian prime minister Denys Shmyhal announced the transfer of €550 million, which will be distributed to restore the energy system of Ukraine. Part of the funds will cover the repair of infrastructure damaged by the war (CHP, heating systems) and par — to cover the urgent needs of cities and citizens of Ukraine.

"The funds will help, in particular, cover the costs of repairing damaged energy infrastructure facilities and maintain the stability of the Ukrainian power grid," Denys Shmygal.

According to the minister, over the past 2 months, Ukraine has received €1.05 billion from the EIB and the European Commission under the terms of the Emergency support program. Another €540 million are expected through the restoration of funding for joint projects.

"We expect the EIB and the EU to be among the leaders in large-scale post-war reconstruction, economic recovery and financing of infrastructure development in our country," Shmyhal.

We remind you that earlier, the administrator of USAID announced the transfer of a $55 million grant to restore the energy system of Ukraine and prepare our state for the heating season.

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