The European Investment Bank (EIB) has announced the provision of 300 million euros to Ukraine, which will be directed towards the restoration of energy infrastructure and critical facilities. This was reported by the Prime Minister of Ukraine, Denys Shmyhal.
This is reported by Finway
The Prime Minister clarified that the agreements were signed in Brussels during a meeting with EIB President Nadia Calviño. He noted:
“100 million euros will be allocated for investments in centralized heating, improving energy efficiency, and purchasing necessary equipment, including installations for electricity or heat production. 100 million euros will be used for the implementation of projects aimed at improving water supply and wastewater management. We will receive 100 million euros for the restoration of water, heat supply, and wastewater facilities, as well as for the modernization of essential social services in the fields of education, healthcare, and housing.”
Shmyhal also emphasized that since the beginning of the full-scale invasion by Russia, the EIB has mobilized more than two billion euros in emergency funding to support Ukraine. In April of last year, a memorandum of cooperation was signed between Ukraine and the European Investment Bank, valid for 10 years.
According to the Ministry of Energy of Ukraine, Russia has caused significant damage to the country’s energy infrastructure, carrying out over 30 massive strikes over three years of conflict, resulting in losses amounting to billions of dollars.