The EU has prepared an agreement that will allow Ukraine to receive loans of 100 million euros for immediate recovery.
The European Commission and the European Investment Bank (EIB) have agreed to provide an EU guarantee that will enable the EIB to provide Ukraine with a new €100 million loan. This was stated in a message on the website of the European Commission.
The money will be used for quick recovery, such as municipal repairs or energy infrastructure.
This EU guarantee is an element of the EU Initiative for Ukraine (EU4U), approved by the bank in March 2023, which includes the EU4Ukraine fund and a EUR 100 million technical assistance and advisory package from the EIB’s own funds.
European Commission President Ursula von der Leyen said the EU is tightening support to meet Ukraine’s needs for a quick recovery.
“In addition to our 1 billion euros for rapid recovery to support critical sectors, the agreed EU guarantee allows the EIB to lend Ukraine an additional 100 million euros on very favorable terms. We are determined to return life in all communities in Ukraine suffering from the Russian Aggression,” he said.
Overall, the EU has allocated 70 billion euros to support Ukraine, which also includes 2.4 billion through the European Investment Bank, backed by an EU guarantee.
Recall that earlier the Vice-President of the European Commission Valdis Dombrovskis spoke about the development of mechanisms to encourage European businesses to work with Ukraine, despite the risks associated with the war, and thus contributing to recovery.
Source: korrespondent
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