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Ukraine To Get 1.6 Billion Euros From European Investment Bank: PM Denys Shmyhal

Ukraine will receive nearly 1.6 billion euros (about $1.62 billion) from the European Investment Bank (EIB), Ukrainian Prime Minister Denys Shmyhal announced.

“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 on Tuesday, according to the government’s press service.

The Prime Minister 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, Xinhua news agency reported.

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 in international aid from its Western partners by the end of 2022, said Ukrainian Finance Minister Serhiy Marchenko at a public event in June.

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