Luxembourg, 3 February 2022 (TDI): European Investment Bank (EIB), the European Union Bank invested more than half of billion euros in 2021 in Ukraine. This money will be used for transport, education, urban mobility, and the local economy. EIB also invested against COVID-19.
Details of EIB investement in 2021
EIB invested almost 29 million euros in Ukraine. This money will be used for infrastructure development. This money will also be used for urban transport efficiency, public building, recovery of social infrastructure, and against COVID-19.
Ukraine remains the largest recipient of EIB in the Eastern region. So far it has received 60% of Eastern states funds.
History of investment in Ukraine by European Banks
15 years ago, EIB started its operations in Ukraine. It has invested almost 7 billion euros in Ukraine as of yet. This money is used in the public and private sectors. EU bank invested 5.9 billion euros in public sectors. This investment made the bank the largest investor in Ukraine other than international financial institutions.
EIB Vice President Teresa Szerwiñska who is responsible for operations in Ukraine said, “According to 2021 signed loan we are committed to making Ukraine a developed state. We wish to make it a good state for people and for doing business.”
She further stated that EIB is continuously committed to Ukraine for helping against COVID-19. The bank also has tried to help and complete all needs of Ukraine for COVID-19 vaccination and full recovery.
EIB is completely focused on modernized, enhanced mobility, and energy efficiency in Ukraine. Teresa Szerwiñska expressed that the EIB is happy to help Ukraine in this difficult situation. Moreover, it is determined to support green and digital transitions through Europe’s global partnership.
By 2014, European financial institutions invested 17 billion euros in terms of loans and grants. Last year, a plan for Eastern states and flagship initiatives for Ukraine was initiated. The European financial institutions will invest 6.47 billion euros in public and private sectors to boost economic development and pandemic recovery.
Protecting lives and public health in COVID-19
EIB gave 50 million euros to Ukraine for pandemic recovery and public health in this worse situation. This investment was helpful for the Ministry of Health of Ukraine for purchasing the COVID vaccine. The Bank is also considering 2022 loans and funds for the vaccine plan.
EIB’s support in other sectors of Ukraine in 2021
In 2021, EIB invested 270 million euros for improving transport infrastructure. The Bank granted almost 58 million euros for modern education. EIB invested 20 million euros for better small and medium businesses. Moreover, Bank also hopefully for 2022 better investment in Kyiv.
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