Ukraine to support energy infrastructure with EUR 550M from EIB

Ukraine is planning to use an additional EUR 550 million, transferred by the European Investment Bank (EIB), on covering the repair costs of energy infrastructure objects damaged in Russian attacks and maintaining the stability of the country’s electrical power network.

The relevant statement was made by Ukrainian Prime Minister Denys Shmyhal on Telegram, an Ukrinform correspondent reports.

“The European Union, in cooperation with the EIB, will help Ukraine to restore energy infrastructure. Today the EIB has transferred an additional EUR 550 million to Ukraine. These funds, in particular, will help us to cover the repair costs of the energy infrastructure objects damaged and maintain the stability of Ukraine’s electrical power system. The aid will also be aimed at restoring the provision of municipal and basic services to the population in communities,” Shmyhal noted.

Generally, over two months, as part of the immediate assistance from the EIB and the European Commission, Ukraine has received EUR 1.05 billion. Another EUR 540 million will be paid through financing joint projects.

“I am grateful to the European Investment Bank and the European Commission for their consistent support. We expect that the EIB and the European Union will be among the leaders in the large-scale post-war reconstruction, economic recovery and infrastructure development financing of our country,” Shmyhal added.

A reminder that, in the morning of October 10, 2022, Russia launched a massive missile attack on Ukraine’s territory. As a result, civilians were reported killed and injured, and critical infrastructure objects were damaged in the capital city and other regions.

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