The European Bank wants to allocate an additional billion euros to support Ukrainians

The European Investment Bank (EIB) is set to allocate more than one billion euros during the International Conference on the Reconstruction of Ukraine, which takes place on Tuesday in Berlin, to support the economic recovery and reconstruction of Ukraine.

The announcement was made on Tuesday following the arrival of Spanish EIB President Nadia Calviño at a meeting.

The EIB President emphasized that since the start of the war on February 24, 2022, the institution has allocated more than two billion euros to repair Ukrainian energy, transport and water infrastructure.

“During this meeting in Berlin, I will sign agreements on new funding, providing more than a billion dollars to support small and medium-sized businesses in Ukraine and to restore infrastructure in Ukrainian cities, such as hospitals, kindergartens, schools, as well as water supplies,” the former said Spanish minister.

Nadia Calviño said the EIB is “one of the most important, if not the most important, investment partner of Ukraine at the moment.”

The EIB President also said that during the meeting she will talk with the Ukrainian authorities about how to speed up the supply and use in relevant projects of more than one billion additional euros, which, according to her, have already been authorized by the European Union. EIB.

Calviño will also discuss with the Kyiv authorities present in Berlin on Tuesday the approval of the implementation schedule for the new €300 million export guarantee approved by the EIB.

This mechanism supports and guarantees European exports to Ukraine in times of war, which make investments particularly risky.

Calviño stressed the importance of such guarantees for private investors, so that the unstable situation in Ukraine does not deter European economic entities from investing in this country.