The European Investment Bank (EIB) has disbursed the first part of a multi-billion loan package to Ukraine. The European Commission announced on Thursday that the first 500 million euros had reached the country attacked by Russia.
The money will be used to repair damaged roads, bridges and railway infrastructure. Important state-owned companies in the road and rail sector are also to be supported.
In July, the EIB pledged loans totaling EUR 1.59 billion to Kyiv, backed by guarantees from the EU budget. Of this, 1.05 billion are intended as emergency aid to finance repairs, for example – including the money that has now been paid out – and 540 billion for existing projects that the EU bank had already supported. The development bank had previously paid emergency loans of over EUR 668 million to Ukraine. In addition, the country also receives money directly from the EU.