European Commission and EIB sign €2 billion guarantees for Ukraine's recovery
The European Commission and European Investment Bank (EIB) finalized a guarantee deal unlocking at least 2 billion euros ($2.2 billion) for immediate recovery and reconstruction projects in Ukraine, according to the Ukrainian Economy Ministry’s press service.
The funding, aligned with Ukraine’s government priorities, falls under the EU’s Ukraine Facility financial support mechanism.
It will strengthen Ukraine’s energy networks, including expanding hydropower and renewable energy production, and improving energy efficiency.
The money will also support railway upgrades, urban public transport, and the "Solidarity Lanes" initiative to enhance transport links between Ukraine and the EU.
Additionally, it will aid in restoring municipal infrastructure like water supply, heating systems, street lighting, schools, hospitals, and universities.
The first projects under this guarantee were announced during EIB President Nadia Calviño’s February visit to Kyiv.
Overall, the EIB is financing 25 projects in Ukraine worth 4.95 billion euros.