Skip to content
Edit post

European Investment Bank earmarks 30 million euros for Ukraine infrastructure

by Lance Luo October 13, 2023 12:50 AM 2 min read
A tram goes down the city street in Lviv, Ukraine on April 7, 2023. (Pavlo Palamarchuk/Anadolu Agency via Getty Images)
This audio is created with AI assistance

The European Investment Bank (EIB) is allocating an additional €30.7 million ($32 million) to Ukraine for infrastructure development projects covering municipal reconstruction and urban public transport, the lender announced Oct. 12.

Funding will cover Kyiv, Odesa, Sumy, Lutsk, and Lviv, and is aimed at modernization initiatives to ensure critical municipal needs are met.

The EIB package includes €22 million ($23.1 million) for modern buses and trams and €8.7 million ($9.1 million) for other initiatives including landfill reclamation, energy-efficient measures in schools, and better water and drainage systems.

"This new funding underlines our commitment to support not only the immediate relief, but also the long-term reconstruction of the country. Regardless of whether it is a new tram connection or improving local services, everything we do is aimed at promoting economic recovery and normalizing the everyday life of the war-torn Ukrainian people,” the bank’s chief said.

In 2022 the EIB allocated €1.7 billion ($1.8 billion) to Ukraine for energy infrastructure repair efforts and has provided over €4 billion ($4.2 billion) for emergency humanitarian assistance.

"These funds, backed by an EU guarantee, are another contribution to financing the urgent needs of Ukraine, which seeks to restore basic services damaged by Russian aggression. This is part of the steady support of Ukraine from the European Union, which remains unchanged, an EU Commission official said.

The EIB is the lending arm of the European Union and the world’s largest multilateral lender.

International donors pledge up to $530 million to Ukraine in demining assistance
Participants of the International Donor Conference on Humanitarian Demining in Ukraine pledged almost 500 million euros ($530 million) to Kyiv in demining assistance, the Croatian news agency HINA reported on Oct. 11, citing Croatia’s Interior Minister Davor Bozinovic.
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
8:59 AM

US State Department condemns 'sham parliamentary elections' in Belarus.

Belarus opened polling stations for both the parliamentary and local elections on Feb. 25 amid condemnations from the Belarusian democratic opposition. The country is ruled by dictator Alexander Lukashenko, who uses rigged elections to solidify his regime rather than to provide a chance for actual democratic competition.
7:43 AM

ISW: Russian officials refrain from publicly discussing invasion anniversary.

Russian officials and state-controlled media largely refrained from publicly discussing the second anniversary of the full-scale invasion of Ukraine on Feb. 24 to avoid highlighting Russia's failure to achieve its stated military objectives, the Institute for the Study of War announced in their daily assessment on Feb. 25.
3:38 AM

Bloomberg: Biden to meet with House speaker.

U.S. President Joe Biden will meet with Congressional leadership, including House Speaker Mike Johnson, at the White House on Feb. 27 to discuss a funding bill for Ukraine’s security needs, Bloomberg reported on Feb. 25.
7:21 PM

Budanov: Russia's goals for 2024 same as previous two years.

Ukraine's military intelligence chief Kyrylo Budanov said that Russia’s goal is still to destroy Ukrainian statehood and reach the administrative border of Luhansk and Donetsk oblasts to “keep what they already have," but that they "have been unable to do (so) by military means."
6:23 PM

Budanov: Transnistria not planning to appeal to join Russia.

Concerns arose after the Institute for the Study of War issued a warning on Feb. 22 that Transnistria was possibly planning to organize a referendum on its annexation to Russia at an announced Transnistrian Congress of Deputies planned for Feb. 28.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.