European Commission and Investment Bank secure €2 billion guarantee for Ukraine’s recovery
Pravda Ukraine
The European Commission and the European Investment Bank (EIB) have signed a guarantee agreement under the Ukraine Facility programme to support Ukraine’s recovery and resilience, allowing the EIB to invest €2 billion in urgent recovery and rebuilding efforts in Ukraine.
Source: Ukraine’s Ministry of Economy
Details: The ministry stated that the funds would support public sector initiatives in key areas. Investments will focus on strengthening Ukraine’s energy networks, including power grids, expanding hydropower and renewable energy production and improving energy efficiency.
The funds will also be used to modernise railways, enhance urban public transport and improve transport links, including the EU-Ukraine Solidarity Lanes and border crossings along key export routes.
In addition, the funding will support the repair of municipal infrastructure, such as water and heating systems and public lighting, as well as schools, hospitals and higher education institutions, the ministry noted.
This initiative is being implemented by the EIB Advisory Service through the €20 million JASPERS advisory package for Ukraine, co-funded by the European Commission and the EIB’s EU for Ukraine advisory programme from 2024.
Background: This funding is part of the European Union’s €50 billion Ukraine Facility programme for Ukraine for the period 2024-2027.
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