The European Commission and the European Investment Bank (EIB) have agreed to make available an EU guarantee enabling the EIB to provide 100 million euro of new loans to Ukraine for fast recovery, such as for municipal or energy infrastructure repairs.
This EU guarantee is one of the elements of the EU for Ukraine (EU4U) Initiative that the EIB approved in March 2023 and which also includes the EU4Ukraine Fund and a 100 million euro technical assistance and advisory package from the EIBs own funds.
Commission President Ursula von der Leyen said: "The EU is stepping up support to address Ukraines fast recovery needs. In addition to our 1 billion euro for fast recovery to support critical sectors, the agreed EU guarantee allows EIB to lend to Ukraine an additional 100 million euro on very favorable terms. We are determined to bring back life to all the communities in Ukraine." The loan agreements are expected to be signed later in 2023 and then disbursed as soon as requested by Ukraine.
Source: Qatar News Agency