European Investment Bank to approve €250 million aid package for Ukraine's energy sector soon
The European Investment Bank (EIB) will soon approve a €250 million aid package for Ukraine's energy sector.
Source: Ministry of Finance following an online meeting between Ukrainian Finance Minister Serhii Marchenko, Nadia Calviño, Head of the EIB, and Jean-Erik De Zagon, Head of the EIB representative office in Ukraine
Quote from the report: "The parties discussed the implementation of cooperation programs and new support projects. The Government of Ukraine and the EIB are cooperating to prepare new financial agreements."
Quote from Marchenko: "The European Investment Bank systematically supports Ukraine in priority areas. We continue to work on expanding our partnership. In total, the EIB's initiatives in the public sector amount to 26 projects worth €5.3 billion."
The portfolio of joint projects in the public and private sectors is the largest in all the years of cooperation and reaches more than €7 billion. The Ministry of Finance reported that the EIB has provided about €2 billion in investments in all directions since the beginning of the full-scale war.
The EIB's financial support aims to meet the country's priority needs, including reconstructing critical infrastructure and the energy system.
Marchenko also stressed the urgent need to support Ukraine's energy sector and develop new projects to restore and develop the electricity sector in Ukraine. It is expected that the bank will soon approve a package of support for the energy sector of Ukraine in the amount of €250 million.
The parties agreed to continue working on effectively implementing current and potential projects and attracting new EIB investments to Ukraine.
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