Shmyhal: European Investment Bank transferred 550M euros to Kyiv

The European Investment Bank (EIB) has transferred 550 million euros to Ukraine, which can be used to restore the energy infrastructure, Prime Minister of Ukraine Denys Shmyhal said, Report informs referring to TASS.

“Today, the European Investment Bank transferred an additional 550 million euros to our country. The funds will help, in particular, cover the cost of repairing damaged energy infrastructure facilities and maintain the stability of the Ukrainian electricity grid. The assistance will also be aimed at resuming the provision of municipal and basic services to the population in communities,” reads a message on the prime minister’s Telegram channel.

He said that in just two months, as part of an emergency support package from the EIB and the European Commission, Ukraine received 1.05 billion euros. “Another 540 million euros will be paid by resuming funding for joint projects,” he said.

On July 25, the EIB approved the allocation of a concessional loan to Ukraine for 1.59 billion euros. As the bank reported, the first tranche of the loan is intended to cover Ukraine’s budget deficit, emergency repairs of damaged transport and energy infrastructure, and preparations for the winter season.

The second tranche of this assistance package was supposed to be directed before the end of the year to reconstruction work in zones “remote from hostilities.” On September 15, the EIB announced the transfer to Ukraine of a tranche in the amount of 500 million euros from an assistance package of 1.59 billion euros.