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The European Investment Bank will attract 100 billion euros to restore Ukraine – Reuters

Investments can be used to restore bridges and repair water supply systems in Ukraine. Also for promoting Ukraine’s exports or for its energy and digital infrastructure.

The European Investment Bank (EIB), the lending arm of the European Union, is proposing a financing structure similar to the one used during the Covid-19 pandemic to channel up to 100 billion euros ($104 billion) of investment into Ukraine’s recovery.

The EU-Ukraine Trust Fund will seek to receive initial contributions of 20 billion euros from countries and the EU budget in the form of grants, loans, and guarantees.

The EIB can direct funds to restore bridges and repair water supply systems, to help Ukraine’s exports, or to energy and digital infrastructure. The fund will also guarantee financing for small and medium-sized businesses.

The European Commission must give its consent to the investment, then the majority of EU countries must approve the plan. Later, the EU states will decide whether to contribute to the fund.

It will be recalled that the European Union offered to allocate 1 billion euros ($1.04 billion) to Ukraine as urgent financial assistance for the country’s urgent needs.

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Source reuters
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