Increasing the amount of support for Ukraine will require the country’s financial guarantees, explained Werner Hoyer.
The European Investment Bank (EIB) needs to obtain financial guarantees to increase support for Ukraine. This is what EIB President Werner Hoyer said at the Ukraine House Davos panel discussion.
“We don’t need capital … We need guarantees. And you can help in this matter, because the pressure on politicians ensures that the bank can continue its work in Ukraine,” he said.
According to him, since the beginning of the big war, the EIB decided to continue supporting Ukraine and allocate new funds without waiting for the end of the war. But to increase the amount of support, the bank needs financial guarantees from the country.
Hoyer added that the bank’s financing in Ukraine helps, for example, to rebuild bridges destroyed by Russian troops, because these bridges are needed to save the economy.
“The bridge could break again in a few months, and EU politicians should not be afraid of this if the burden of this potential loss is shared equally. , and not about the injection of capital,” added the banker.
The AAA-rated EIB raises up to €100bn annually from the capital markets to finance projects, he said, so the bank needs to save money and make sure they are good projects.
It should be noted that the EU authorities have allocated a tranche of 500 million euros as part of the exceptional macro-financial assistance to Ukraine.
Earlier it was also reported that the EU adopted an aid package to Ukraine for 18 billion euros.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.