KYIV. UkraineGate . 15 . September . 2022 | Society.
Ukraine received the first payments of 500 million euros in the form of immediate aid from the European Investment Bank. These funds are part of the second package of emergency solidarity response measures from the EIB in the amount of EUR 1.59 billion.
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“The first payments in the amount of 500 million euros in the form of immediate aid to Ukraine have reached the country to meet its most urgent needs,” the message reads.
Details
It is reported that yesterday the European Investment Bank (EIB), an EU bank, allocated the first tranches of the emergency response package of Ukrainian Solidarity in the amount of 1.59 billion euros, backed by an EU guarantee.
“Allocated financing in the amount of 500 million euros will help the government of Ukraine to cover priority short-term financing needs and ensure urgent repair of damaged roads, bridges and railway infrastructure,” the message emphasizes.
It will also provide support to strategic state companies — Ukravtodor, the Road Agency of Ukraine, and the Ukrainian railway company Ukrzaliznytsia. The repair of the railway network, roads and bridges will help Ukraine ensure the movement of people, goods and grain. As Ukraine is one of the largest exporters of grain in the world, these vital measures will help its economy recover and improve its connection with the European Union.
It is reported that the support package in the amount of 1.59 billion euros within the framework of the emergency response program of solidarity of Ukraine of the EIB, supported by guarantees from the EU budget, consists of two blocks of measures:
- Immediate aid of €1.05 billion, of which half a billion was fully disbursed on 14 September 2022. “Further payments are scheduled for the coming days,” the message reads.
- EUR 540 million for the recovery of EIB-financed projects in Ukraine, where the EIB continues to provide support to Ukraine by financing existing projects as they are implemented.
Addition
The European Union will allocate 1.59 billion euros to Ukraine to restore infrastructure, support energy, transport and educational projects.
Source: Ukrgate
