Ukraine received the first €500M from the European Investment Bank

The European Investment Bank noted on September 14, 2022, that Ukraine received the first payments from the European Investment Bank in the amount of 500 million euros of immediate assistance to meet urgent needs. These funds are part of the second package of emergency solidarity measures from the EIB of 1.59 billion euros.

Source: The European Investment Bank

“The disbursed financing of €500 million will help the Ukrainian government cover priority short-term financing needs, and ensure urgent repairs of damaged roads, bridges and railway infrastructure. It will also support strategic state-owned companies — Ukravtodor, Ukraine’s roads agency, and Ukrainian rail company Ukrzaliznytsia.”

The European Investment Bank says that these vital interventions are necessary because Ukraine is one of the largest exporters of grain worldwide. They will also help the economy recover and improve its connection with the European Union.

“The €1.59 billion package of support under the EIB Ukraine Solidarity Urgent Response, backed by guarantees from the EU budget, consists of two blocks of interventions:

-€1.05 billion of immediate assistance, of which half a billion was fully on September 14, 2022. Further payments are scheduled over the coming days.

-€540 million for resuming EIB-financed projects in Ukraine, where the EIB is continuing its support to Ukraine by funding its existing projects as they progress.”

See also: The European Investment Bank Board approved €1.59 billion of financial assistance for Ukraine

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