European Investment Bank Allocates €1.7 Billion to Support Ukraine's Immediate Expenditures
Date: 2023-12-08 Author: Dima Zakharov Categories: ECONOMY
Since February 24, 2022, the EIB has channeled €1.7 billion to Ukraine, specifically targeting the financing of the state budget's priority expenditures. As of December 2023, the EIB's project portfolio in the public sector encompasses 25 projects with a total volume of €5.2 billion. Of these, 23 projects amounting to €4.81 billion are currently in the implementation stage.
The Ministry of Finance emphasizes that the collaboration with the EIB covers a broad spectrum of initiatives, including infrastructure, energy, transportation, education, and other sectors. Presently, the EIB's project portfolio in the public sector stands as the largest among international financial organizations.
The EIB actively supports and implements initiatives to restore Ukraine's affected energy infrastructure. Within the "Rehabilitation of Hydro Power Plants" project, the Bank has provided €133 million in financial support to PJSC "Ukrhydroenergo" for the restoration of damaged hydroenergy facilities in Ukraine. Additionally, in collaboration with the Ministry of Finance, the Ministry of Energy, and NEC "Ukrenergo," the EIB is working on ensuring the protection of critical infrastructure through projects such as "Enhancing Substation Reliability," "Construction of 750 kV Transmission Line Zaporizhzhia NPP – Kahovska," and "Construction of 750 kV Transmission Line Rivne NPP – Kyiv."
Moreover, the EIB continues active support for vital social projects in Ukraine, including the "Emergency Credit Program for Ukraine's Recovery" and the "Recovery Program for Ukraine," focused on restoring the social infrastructure of local communities in Ukraine.
