The European Investment Bank (EIB) has approved EUR 1.59 bn in financing for Ukraine, Ursula von der Leyen, the head of the European Commission (EC), announced on Monday.
“The EIB, with EU budget support, approved EUR 1.59 bn of financing for Ukraine, with EUR 1 bn to be earmarked immediately,” she wrote on social media, adding the the funds “will help rebuild infrastructure and resume services” as well as “support energy, transport and education projects for the future.”
🇺🇦 The @EIB, with EU budget support, approved €1.59 billion of financing for Ukraine, with €1 billion to be released immediately.
It will help rebuild infrastructure and resume services. And support energy, transport and education projects for the future.
We #StandWithUkraine pic.twitter.com/haiCTephri
— Ursula von der Leyen (@vonderleyen) July 25, 2022
This is the second package of assistance to Ukraine, which will help restart and reactivate critical elements of the country’s infrastructure, strengthening its resilience and maintaining its economic stability.
“We continue to be in regular contact with the Government of Ukraine to help flexibly when needed. It is a matter of investing in the future of Ukraine, the future of Europe and the future of the free world,” Teresa Chervinska, EIB Vice-President responsible for operations in Ukraine, said.
Sergii Marchenko, Ukraine’s Minister of Finance, stressed that strength in global support and upping financial assistance is needed to rebuild war-damaged Ukraine.
“I am grateful to the EIB and the European Union for their long-standing cooperation and financial support and for sticking with Ukraine for as long as it takes… With this financial support, we will continue to work on the reconstruction of damaged infrastructure, the resumption of municipal services, including transport services,” he pointed out.
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