Wedoany.com Report-Mar 11, The European Investment Bank (EIB) is to provide €2bn for recovery and reconstruction projects in Ukraine, including energy, transport, housing, water and heating. The work is intended to sustain essential services and support the country’s economy.
A housing unit in Borodianka, Ukraine
The scope of work also includes social infrastructure such as schools, hospitals and higher education institutions.
Railways, urban public transport and transport connectivity will be modernised, as will the EU–Ukraine “solidarity lanes”. These were brought in by the European Commission to secure Ukraine’s trade. Energy grids will be expanded using hydropower and renewable energy.
The €2bn programme is part of the EU‘s €50bn, 2024-27 Ukraine Facility project, which aims to rebuild the country and integrate it in the EU.
Marta Kos, the European commissioner for enlargement, said: “This guarantee agreement with the EIB underscores the EU’s role in supporting Ukraine as it faces the fourth year of Russia’s brutal war of aggression.
“We will stand by Ukraine for as long as necessary and with the intensity required.”
