EU Member States pledge over €400 million to the EIB’s Fund supporting Ukraine
On 13 July, the European Investment Bank (EIB) and the ministers of 16 EU countries signed expressions of intent for the EIB EU for Ukraine Fund in support of Ukraine’s agenda for recovery and reconstruction.
Announced in spring 2023 as a part of a larger EU for Ukraine initiative, the EIB’s EU4U Fund will help rapidly scale up support for Ukraine’s most urgent infrastructure needs and sustain its economy. The size of the Fund is expected to grow further with future commitments.
The Fund will enable the EU bank to sustain its support for Ukraine. It will serve as a temporary bridge solution until longer-term EU measures become available.
The Fund will facilitate deployment of both public and private sector projects, with the main focus on municipal infrastructure – schools and hospitals, transport networks, water and wastewater treatment facilities, digital and cybersecurity capability, as well as improved access to finance for Ukrainian entrepreneurs.
The EIB offered immediate relief to Ukraine right after the outbreak of the war. It disbursed €1.7 billion of financing in 2022 to help finance emergency repairs to the country’s infrastructure ravaged by Russian bombing. The EU bank also provided a €4 billion credit line to support the integration of refugees from Ukraine in the EU countries.
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