Ukraine will attract EUR 62M in additional financing from EIB - Shmyhal

The Cabinet of Ministers has adopted two documents that will help attract almost EUR 62 million in additional financing from the European Investment Bank (EIB) for the energy sector.

Ukrainian Prime Minister Denys Shmyhal said this at a government meeting on Friday, Ukrinform reports, citing his Telegram channel.

"At today's government meeting, we are adopting two documents that will allow Ukraine to attract almost EUR 62 million in additional financing from the European Investment Bank," he said.

Shmyhal specified that these funds would be spent on the development of social infrastructure, energy sustainability, heat supply and other important projects in Ukrainian communities.

He added that the coalition for the recovery and financial resilience of Ukraine included dozens of countries and that the circle of partners continued to expand.

"In particular, we are strengthening our cooperation with the Republic of Korea. An agreement has been signed with the Export-Import Bank of Korea to attract $100 million in financing," he said.

Shmyhal recalled that Ukraine received additional support packages from partners this week. In particular, Switzerland allocated $1.7 billion for reconstruction projects in Ukraine for the next four years. Germany allocated an additional EUR 70 million to provide Ukrainian communities with cogeneration plants, generators and solar panels. The United States Agency for International Development will also provide more than $1 billion to restore Ukraine's energy system and meet humanitarian needs.

Denmark has recently allocated EUR 44 million for the reconstruction of critical infrastructure in the Mykolaiv region.

Photo: Cabinet of Ministers of Ukraine