Ukraine received €500 million from the European Bank for Reconstruction and Development for infrastructure repairs

Oleg Panfilovych

Ukraine received the first €500 million in immediate aid from the European Investment Bank (EIB) to meet urgent needs.

This is stated in the message of the EIB.

"Ukraine received the first payments from our package of urgent measures (Ukraine Solidarity Urgent Response) for €1.59 billion, prepared in close cooperation with the European Commission. The funds will help Ukraine to solve its most urgent needs," the EIB stated.

These funds are intended to help the Government of Ukraine cover priority short-term financing needs and ensure the urgent repair of damaged roads, bridges and railway infrastructure. The repair of the railway network, roads and bridges will allow Ukraine to ensure the transportation of people, goods and grain. As Ukraine is one of the largest exporters of grain in the world, these vital measures should help the Ukrainian economy recover and improve its connection with the European Union.