Ukraine to get 1.6 bln euros from European Investment Bank: PM
Published: Jul 27, 2022 08:26 AM
Ukraine will get some 1.6 billion euros (about 1.62 billion U.S. dollars) from the European Investment Bank (EIB), Ukrainian Prime Minister Denys Shmyhal announced on Tuesday.

"Yesterday, the European Investment Bank agreed to disburse 1.6 billion euros to Ukraine, with 1 billion euros out of this sum to be allocated promptly," Shmyhal told a cabinet meeting, according to the government's press service.

Shmyhal said the funds will be directed for the activities to prepare Ukraine for the heating season, including the restoration of damaged electricity, water and heat supply facilities.

According to the Interfax-Ukraine news agency, Ukraine will also use part of the funding from the EIB to finance projects in energy efficiency, roads, transport, education, infrastructure and other sectors.

Kiev plans to raise 20 billion dollars in international aid from its Western partners by the end of 2022, said Ukrainian Finance Minister Serhiy Marchenko at a public event last month.