European Investment Bank to provide over 600 mln euros to Ukraine under EU guarantee

BRUSSELS. April 22 (Interfax) - The European Commission and the European Investment Bank (EIB) announced on Wednesday a new financing package for urgent recovery projects in Ukraine totaling over 600 million euros.

"Today's announcement reflects the strength of the EU's partnership with Ukraine. We are scaling up our support to deliver concrete investments where they are needed most - from energy security to transport and housing. We remain committed to supporting Ukraine's recovery and its path towards European integration," EIB Vice-President Karl Nehammer was quoted as saying on the bank's official website.

The European Commission "is extending the European Union guarantee to the EIB Group to enable over 450 million euros in EIB Group financing for further recovery efforts in Ukraine," the EIB said in a statement.

"In addition, the package includes around 150 million euros in complementary EU grants and technical assistance," the statement said.

This financing, supported by the EU guarantee, would be directed to "sectors essential to Ukraine's economy and daily life, such as roads, railways, power grids and energy efficiency for homes and public infrastructure," it said.

"Support will also extend to urban mobility and education facilities, helping maintain essential services while advancing long-term recovery and reforms," the statement said.