On Monday 25 July, the Board of Directors of the European Investment Bank (EIB) announced that it had provided €1.59 billion in aid, backed by guarantees from the EU budget, to help Ukraine repair the most critical damaged infrastructure and resume vital projects addressing the urgent needs of the Ukrainian population.
Financial aid totalling €1.05 billion is available immediately. These are initial disbursements under eight existing financing contracts. It will help the Ukrainian government to cover priority short-term financing needs, support strategic state-owned companies, ensure urgent repairs to damaged infrastructure, resume the provision of disrupted municipal services and support urgent energy and energy efficiency measures in preparation for winter.
The remaining €540 million will be used to resume the implementation of EIB-financed projects in Ukraine, where possible, in territories controlled by the Ukrainian government. The selected projects will cover energy, energy efficiency, roads, transport, education and infrastructure, as well as reconstruction and recovery programmes. (Original version in French by Camille-Cerise Gessant)