EU allocates EUR 1.6 billion to Ukraine for infrastructure restoration

This is reported by European Pravda with reference to the statement of the European Commission.

It is noted that the funds were allocated within the framework of the emergency response program of the European Investment Bank EIB Ukraine Solidarity.

In addition, this is the 2nd aid package under the program: the 1st  was fully disbursed within a month of the start of full-scale war. The amount of assistance was EUR 668 million. 

Of the funds provided for in the second package of financial assistance, EUR 1.05 billion will be provided to Ukraine immediately - they will be directed primarily to the repair of damaged infrastructure and urgent measures in the energy sector.

The remaining EUR 540 million will be directed to the restoration of European Investment Bank projects in Ukraine, in particular in the fields of energy, energy efficiency, roads, transport, education and infrastructure, as well as reconstruction and restoration programs. The exact time of allocation of these funds will depend on the state of progress of the main projects.

"The second aid package within the EIB's solidarity measures in Ukraine will help restore the operation of basic services and launch the most important infrastructure, strengthen the country's resilience, as well as preserve economic stability", the European Commission said in a statement.