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PM Shmyhal: EU provides almost $450 million for Ukraine's reconstruction

by Martin Fornusek July 13, 2023 11:16 PM 1 min read
Prime Minister Denys Shmyhal addresses a joint press conference at the end the 4th Summit of the Council of Europe, at the Harpa concert hall in Reykjavik, Iceland, on May 17, 2023. (Photo by HALLDOR KOLBEINS/AFP via Getty Images)
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The European Investment Bank (EIB) and the EU member states are providing over 400 million euros ($449 million) for the reconstruction of Ukraine, Prime Minister Denys Shmyhal said on July 13.

"This will help fund the most urgent reconstruction projects for Ukrainians, including critical infrastructure. Grateful to the partners for the quick and timely assistance!" Shmyhal tweeted.

The EU, its member states, and the European financial institutions have provided Ukraine with $42.4 billion in economic, social, and financial assistance since the start of the full-scale invasion.

On June 20, the EU proposed a four-year financial assistance package worth $55 billion, administered in loans and grants.

According to the World Bank's assessment from March, Ukraine will need at least $411 billion for recovery and reconstruction. This figure equals 2.6 times Ukraine's projected gross domestic product in 2022.

Investigation: EU inability to ramp up production behind acute ammunition shortages in Ukraine
Editor’s note: This investigation is a collaboration between the Kyiv Independent and partners, including The Investigative Desk, Lighthouse Reports, and Follow the Money (Netherlands), El Diario (Spain), Delfi (Estonia), and Libération (France). Key findings: * Over a year into Russia’s full-sca…
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