by Gabriela Baczynska

BRUSSELS (Reuters) – The European Investment Bank (EIB) on Thursday unveiled a new fund worth 400 million euros to help rebuild Ukraine ahead of the country’s long-term plan. European Union is put in place.

Sixteen of the twenty-seven EU member countries have announced that they will contribute to the EIB fund for Ukraine.

This fund plans to provide grants and loans, and provide guarantees to Ukrainian banks and companies.

France and Italy have each made contributions worth 100 million euros, which, according to a deputy director of the institution, could be used to repair infrastructure and finance small and medium-sized enterprises or services public.

“We, the European Union, are financing Ukraine’s resilience,” said EIB Vice-President Teresa Czerwinska.

She said an additional €100 million would be allocated to provide technical assistance to Ukraine to help it use the money effectively.

The EU last month pledged €50 billion in aid to Ukraine over the next four years to help rebuild it.

(Report Gabriela Baczynska; Camille Raynaud, edited by Nicolas Delame)

Copyright © 2023 Thomson Reuters