EU bank approves $1.62 billion financial aid for Ukraine

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The European Investment Bank (EIB), also known as the European Union bank, is providing additional financial assistance of 1.59 billion euros ($1.62 billion) to Ukraine in the face of the devastating impact of the Russian invasion, the European Commission announced in a statement on Monday. .az reports citing Ukrinform.

Of the new pledged amount, 1.05 billion euros ($1.07 billion) will be made available immediately, he said.

This is the second financial package provided by the bloc since the start of the invasion and will help Ukraine “repair the most essential damaged infrastructure and resume critically important projects that meet the urgent needs of the people.” Ukrainian,” the commission said.

The European Union continues to stand with Ukraine and its people in the face of Russia’s brutal aggression,” said Valdis Dombrovskis, EU Executive Vice-President for an Economy that Works for People, in the press release.

He added that the commission “will continue to work with EU member states and our international partners to support Ukraine at all levels – for as long as it takes.”

Serhii Marchenko, Ukrainian Finance Minister, expressed his gratitude to the EIB and the European Union for their support.

“Thanks to this financial support, we will continue to work on restoring damaged infrastructure, resuming the provision of municipal services, including transport services, and preparing for the next heating season,” Marchenko said. .

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