6 minutes agoEuropean Investment Bank gives Ukraine 500m euros
Periskopi(4 years ago)
(4 years ago)The European Investment Bank (EIB), the European Union's lender, said it has earmarked 500m euros for Ukraine as part of the country's emergency solidarity response package. The EIB said in a statement, on September 15th, that funds are part of a $1.59 billion package for Ukraine, which has guarantees [...]
The EIB said in a statement on September 15th that the funds are part of a 1.59 billion-euro package for Ukraine, which has guarantees from the EU budget.
These tools aim to help Ukraine cover the priority needs of short-term financing and provide urgent repairs to damaged roads, bridges and railway infrastructure, the statement said.
Ukraine's Finance Minister, Sergii Marchenko, said the funds are key “for the country's economic stability in the middle of the war, which is now in its seventh month.
The cost of rebuilding Ukraine after Russia's invasion could reach $750 billion, Ukrainian Prime Minister Danies Schmygal said in July.
In the same month, European Commission President Ursula von der Leyeen said the European Union would create a platform to co-ordinate the reconstruction of Ukraine.
“Since the beginning of the war, the European Union has mobilised around 6.2 billion euros (6.48 billion euros) in financial support”, it had declared. “and... more will come. We will be actively engaged in medium- and long-term reconstruction”.
The Russian invasion of Ukraine has started on February 24th.
