Today, Hoyer reaffirmed the EIB’s commitment to Ukraine, backing its efforts to rebuild amidst the ongoing conflict with Russia. The EIB has extended two loan agreements totaling €450 million as part of the EU4U program, which will focus on restoring critical infrastructure and enhancing economic stability. This funding is part of the larger “EU for Ukraine” initiative, supported by €500 million in contributions from EU member states and European Commission guarantees.
In addition to today’s announcements, Prime Minister Denis Shmygal met with Hoyer on Monday to discuss Ukraine’s reconstruction efforts and celebrate the inauguration of the new EIB office for Eastern Europe. Shmygal commended the EIB for its significant contributions to Ukraine’s post-crisis recovery, which includes over €7.5 billion (EUR1 = USD1.0956) in aid since March 2022. This assistance has been instrumental in rebuilding vital infrastructure, modernizing energy and heating systems, and supporting municipal projects across the country.
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Source: Economy - investing.com
