The European Investment Bank (EIB) on Monday allocated Ukraine 1.59 billion euros of financial aid to restore critical damaged infrastructure and important projects aimed at meeting the urgent needs of Ukrainians. This is reported in a statement by the European Commission.
The money has been allocated within the framework of the emergency response program of the European Investment Bank EIB Ukraine Solidarity. This is the second package of aid under the program: the first of 668 million euros was fully paid within a month after the outbreak of war.
Of the 1.59 billion euros of the second aid package, 1.05 billion euros will be given to Ukraine immediately, mainly for the repair of damaged infrastructure and urgent measures in the energy sector.
The remaining 540 million euros will be used to restore EIB projects in Ukraine, where possible in the sectors of energy, energy efficiency, roads, transport, education and infrastructure, as well as reconstruction and rehabilitation programs. The exact timing of these funds will depend on the state of progress of the main projects.
"The second aid package under the EIB's solidarity measures in Ukraine will help restart essential services and critical infrastructure, strengthen the country's resilience and preserve economic stability," the European Commission stresses.