Ukraine's reconstruction: European Investment Bank announces assistance of €100 million
Illustrative photo: Ukraine will receive 100 million euros to restore infrastructure (Getty Images)
The European Investment Bank (EIB) will provide Ukraine with 100 million euros for the restoration and modernization of social infrastructure, according to the Ministry of Finance of Ukraine.
As stated by the ministry, Ukraine has entered into an agreement with the EIB as part of the Reconstruction Conference taking place in Berlin.
The purpose of this agreement is the restoration and modernization of essential social services in education, healthcare, housing for internally displaced persons, and social protection.
It also includes the restoration and modernization of critical infrastructure in areas affected by the destruction and in regions with the highest number of internally displaced persons.
The Ministry of Finance reminded that since the beginning of the full-scale war, the EIB has provided Ukraine with over 2 billion euros in investments.
Infrastructure restoration
Due to the full-scale invasion by Russian forces across the entire territory of Ukraine, there is damage to critical infrastructure.
Particularly the energy sector, as Russia often targeted such facilities during its missile strikes and drone attacks.
A significant number of thermal and hydroelectric power plants have already been damaged in the country, forcing energy providers to implement power outage schedules. Ukrenergo noted that repairs could take days, months, or even years.
