European Investment Bank provides Ukraine with EUR 500 million in immediate aid: how the funds are used

EIB reports on its website.

Ukraine received the first tranche of 500 million euros of immediate aid to meet urgent needs from the package of Emergency Solidarity Measures in the amount of 1.59 billion euros.

The first disbursements should help the Ukrainian government to cover priority short-term financial needs, to ensure urgent repairs of damaged roads, bridges and railway infrastructure. The funds will also serve as support for strategic state enterprises "Ukravtodor" and "Ukrzaliznytsia".

"The repair of railways, roads and bridges will help Ukraine continue to transport people, cargo and grain. Since Ukraine is one of the largest exporters of grain in the world, these important measures will help restore the country's economy and improve connections with the EU.

The Support Package within the Emergency Solidarity Measures from the EIB in the amount of 1.59 billion euros, supported by guarantees from the EU budget, consists of two blocks:

• immediate support for a total of 1.05 billion euros, of which 500 million was transferred on September 14, 2022. Further payments are scheduled for the coming days;

• restoration of projects financed by the EIB in Ukraine, for a total amount of 540 million euros. Financing of these projects will take place as they are implemented.

The first emergency support package of €668 million was fully disbursed within a month since the start of Russia's full-scale and unprovoked war against Ukraine.