EIB to allocate EUR 300 million to restore Ukraine’s energy and infrastructure: Denys Shmyhal

Ukraine will receive EUR 300 million from the European Investment Bank to restore its energy and critical infrastructure. This was announced by Prime Minister of Ukraine Denys Shmyhal.

The relevant agreements were signed in Brussels during a meeting between the Head of the Ukrainian Government and EIB President Nadia Calviño. Also present at the signing were High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission Kaja Kallas, European Commissioner for Economy and Productivity, Implementation and Simplification Valdis Dombrovskis, and European Commissioner for Defence and Space Andrius Kubilius.

According to Denys Shmyhal, the allocated funds will be used for a number of projects. In particular:

• EUR 100 million – to invest in district heating, improve energy efficiency, and purchase the necessary equipment, including power or heat generation plants.
• EUR 100 million – to implement projects aimed at improving water supply and sewage.
• EUR 100 million – to restore water, heat and sewage facilities, as well as to modernise basic social services in the education, healthcare and housing sectors.

“Each of the projects launched today is a contribution to the development of Ukrainian communities, the stability of the economy and the secure European future of our country,” the Prime Minister said. He expressed his gratitude to the EIB for supporting the Government’s efforts to quickly restore the country, aimed not only at rebuilding but also at creating a modern, sustainable and energy-efficient infrastructure.

The Prime Minister also said that during the meeting with Nadia Calviño they discussed the implementation of joint projects and the launch of new ones, in particular in the areas of transport, social infrastructure, energy efficiency and energy.

“Since the beginning of russia’s full-scale invasion, the EIB has mobilised more than EUR 2 billion in emergency funding,” said Denys Shmyhal.

The Prime Minister also said that Ukraine was strengthening cooperation with the EU in the areas of space and medicine. In particular, the relevant documents were signed today in the presence of the Prime Minister.

Specifically, an agreement was signed on Ukraine’s participation in EU space programmes. According to Denys Shmyhal, such cooperation will promote the development of space technologies, help Ukrainian enterprises integrate into the European space market and contribute to the country’s economic recovery.

Ukraine also joined the Joint Procurement Agreement to Procure Medical Countermeasures. According to the Prime Minister, this mechanism allows participating countries to pool their procurement needs for medicines and vaccines in order to obtain them on more favourable terms, more quickly and in stable quantities.