The European Commission and EIB are extending another EUR 600 million package to support Ukraine. The funds will target the most urgent needs such as restoration of damaged roads and railways, repair of power grids, and reconstruction of hospitals and schools.

The decision was announced on April 22. Noteworthily, this package consists of two parts. The lion’s share of EUR 450 million loan is covered by the European Commission’s guarantee, and the remaining 150 million are grants and technical assistance that do not need to be paid back. As a matter of fact, these funds should help communities not just survive but provide people with reliable transport and heat in their homes.

EIB Vice-President Karl Nehammer pointed out that that this is more than support – it is a contribution to our energy security and future in the EU. Incidentally, owing to the EIB’s steady assistance, last year we were able to spend EUR 144 million for new city buses and thermal insulation of university dormitories. In general, the EIB has been financing critically important projects in Ukrainian communities since the war of aggression began.

Such investment primarily underpins our resilience. When partners are investing in roads and electricity, they make us understand they believe in our recovery and future as early as today.