European Investment Bank to allocate €560 million to Ukraine
Photo: Ukrainian Prime Minister Denys Shmyhal (Vitalii Nosach, RBC-Ukraine)
The European Investment Bank (EIB) will provide Ukraine with €560 million in loans this year for projects in the energy sector, transport infrastructure, and housing rehabilitation, according to Ukrainian Prime Minister Denys Shmyhal.
Shmyhal says that the relevant memorandum was signed today with EIB President Nadia Calvino.
"We plan to accelerate work on current projects and focus on preparing new EIB investments in critical public and private initiatives. The memorandum will contribute to the rapid recovery of Ukraine and bring us closer to the European Union," the Prime Minister writes.
EIB projects
According to the Ukrainian Ministry of Finance, the Memorandum defines the priority areas of cooperation for the next 10 years.
In 2024, the EIB will allocate €500 million in loans and €60 million in grants to implement existing projects.
The portfolio of new national infrastructure projects may include, among other things, investments in the road sector; modernization of railway lines, railway junctions, and border crossings; energy sector; improvement of civil protection, as well as protection of strategic national infrastructure and digital resilience of Ukraine; healthcare infrastructure.
EIB
In December 2023, Spanish Finance Minister Nadia Calvino became the new head of the European Investment Bank. She will be responsible, among other things, for assisting Ukraine.
Calvino said that the EIB expects to play a key role in helping to finance Ukraine's recovery.
