(AGENPARL) – mer 12 ottobre 2022 PRESS RELEASE
2022-400-EN
Luxembourg, 12 October 2022
Another €550 million from the EIB Group supported by an EU guarantee reaches Ukraine for immediate assistance
Another €550 million of immediate assistance was disbursed to Ukraine this week. This comes on top of €500 million already disbursed on 14 September.
These tranches amount to €1.05 billion, part of the second HYPERLINK “https://www.eib.org/en/press/all/2022-336-eib-board-supported-by-the-eu-commission-approves-eur1-59-billion-of-eu-financial-assistance-for-ukraine” €1.59 billion package of the EIB’s Ukraine Solidarity Urgent Response, developed in close cooperation with the European Commission.
The remaining €540 million will be used for resuming implementation of existing EIB-financed projects in Ukraine, as they progress.
The first emergency support package of €668 million was fully disbursed within a month of the beginning of Russia’s unprovoked war of aggression against Ukraine.
The European Investment Bank (EIB), the European Union’s bank, has this week disbursed the remaining €550 million of its €1.05 billion in immediate assistance to Ukraine. The first tranches (€500 million) were paid out on 14 September. This €1.05 billion of immediate assistance is part of the €1.59 billion package of the Ukraine Solidarity Urgent Response. The remaining €540 million will be used for resuming implementation of existing EIB-financed projects in Ukraine, as they progress, excluding areas of active hostilities and territories not controlled by the Ukrainian government.
The EIB’s second Ukraine Solidarity Urgent Response was prepared in cooperation with the European Commission as an urgent measure to support Ukraine in the context of Russia’s unprovoked war of aggression. The package benefits from an EU guarantee under the external lending mandate and complements the €668 million of immediate financial support for Ukraine provided by the EIB in early March 2022.
The disbursed amount of €550 million will help the Ukrainian government to cover urgent financing needs, restore some of the most critical damaged infrastructure, resume the provision of municipal services — including transport services and vital infrastructure networks — and support cities in the process of recovering basic functions and basic services for the population. It will also support Ukrenergo, Ukraine’s electricity company, in its critical role as enabler of the stable functioning of the Ukrainian electricity grid. It will therefore ensure it maintains power supplies to industries and households through the rehabilitation of key transmission infrastructure. This is required to maintain system stability and back-up synchronisation with European electricity networks.
The latest €1.59 billion package of support under the EIB Ukraine Solidarity Urgent Response, backed by an EU guarantee, consists of two blocks of interventions:
€1.05 billion of immediate assistance to ensure Ukraine’s immediate needs. This package was fully disbursed between September and October 2022.
€540 million for resuming EIB-financed projects in Ukraine. The selected projects will cover energy, energy efficiency, roads, transport, education and infrastructure, as well as reconstruction and recovery programmes. The exact timing of these disbursements will depend on the progress of the underlying projects.