EIB President Werner Hoyer and EIB Vice-President Teresa Czerwińska met Ukrainian Minister for Finance Sergii Marchenko during the World Bank Group-IMF Annual Meetings in Marrakesh.
They confirmed the delivery of a €30.7 million as part of the Bank’s Ukraine Solidarity Urgent Response package, the EU Delegation to Ukraine informs.
As noted, these funds are supported by an EU guarantee and intended to enhance the country’s municipal infrastructure and urban public transport, along with a commitment to further financial support by the end of the year.
The EIB is rolling out a specialised EU for Ukraine Fund, which will provide additional financing across all sectors, including equity support for the private sector. This comes with the €100 million from the EIB already available for technical assistance to help Ukraine and Moldova to prepare and implement tangible projects.
“The EIB’s support for Ukraine is unwavering. This new funding underscores our commitment to assist not only in bringing immediate relief, but also in the longer-term rebuilding of the country. Whether it’s about a new tram connection or enhancing local services, everything we do is directed towards facilitating economic recovery and bringing back normality to the daily lives of war-shattered Ukrainian people,” the EIB President said
The €30.7 million in financing disbursed will address the urgent modernisation needs of Ukrainian cities such as Kyiv, Odesa, Lviv, Lutsk and Sumy, ensuring sustained mobility and addressing vital infrastructure needs in these municipalities.
€22 million was allocated to secure the acquisition of new, sustainable and Ukrainian-built trolleybuses and trams in Kyiv, Lviv and Odesa. The remaining €8.74 million was channelled into facilitating key municipal developments, such as rehabilitating the Hrybovychi landfill and solid waste management facility in Lviv, introducing energy efficiency measures in Sumy’s kindergartens, and enhancing water supply and sewerage systems in Lutsk.
“We are grateful to the European Investment Bank and the EU. Their support helps in maintaining Ukraine’s financial stability. The contribution of €30.7 will help to enhance Ukrainian city services and transportation, ensuring our citizens retain mobility in the face of a full-scale Russian invasion of Ukraine,” Minister of Finance of Ukraine Sergii Marchenko said.
The EIB offered immediate relief to Ukraine, disbursing €1.7 billion of financing since 2022 to help finance emergency repairs to the country’s infrastructure ravaged by Russian bombing. The EU bank also provided a €4 billion credit line to support the integration of refugees from Ukraine in EU countries.