EIB to allocate more funds to infrastructure restoration in Ukraine

    WORLD  05 July 2022 - 09:32

    During the Ukraine Recovery Conference in Lugano, Switzerland, the European Investment Bank (EIB) proposed to extend assistance to Ukraine by a new EU-Ukraine Gateway Trust Fund.

    EIB Vice-President Teresa Czerwinska said at the conference on July 4 that it is an additional instrument for the restoration of critical infrastructure, according to Interfax Ukraine.

    The mechanism of functioning of this fund has been developed, she said, adding that it would play an important part in attracting investment.

    Czerwinska recalled that the EIB investment portfolio in Ukraine was €7 billion ($7.3 billion), and it has allocated around €700 million ($731 million) since the beginning of the war.

    Earlier on July 4, Reuters reported, referring to an EIB document, that the EIB proposed a funding structure previously used during the COVID-19 pandemic to help rebuild Ukraine with up to €100 billion ($104.3 billion) of investment.

    The EU-Ukraine Gateway Trust Fund (E-U GTF) would seek to have an initial €20 billion ($20.8 billion) in contributions from EU countries and the EU budget in the form of grants, loans and guarantees, the agency said.

    The guarantees in particular would have a multiplier effect, leading to infrastructure projects totalling some €100 billion ($104.3 billion), the document said, about half of Ukraine's more immediate needs.

    The European Commission must first give its assent, with a majority of EU countries having to approve the plan.

     

    Caliber.Az




Read also

Nobel Prize season arrives amid disrupted peace in Europe

30 September 2022 - 20:48

Bloomberg: Biden administration readies new sanctions targeting Iran’s oil exports

30 September 2022 - 20:39

Indonesia authorizes first domestic COVID-19 vaccine

30 September 2022 - 19:50

Schwarzenegger vows to fight hate during Auschwitz visit

30 September 2022 - 19:01

Lithuania boosts defence budget to buy HIMARS, trucks, drones

30 September 2022 - 19:15

Putin signs decree to fast-track citizenship for foreigners in Russian army

30 September 2022 - 19:40
ADVERTS
Latest news

    Anti-war novel banned by Nazis gets Netflix revival

    01 October 2022 - 02:00

    European woman takes command of International Space Station for first time

    01 October 2022 - 01:30

    US-China tech fight leaves global losers

    01 October 2022 - 01:00

    Russia safely returns three cosmonauts from International Space Station

    01 October 2022 - 00:32

    New York state to adopt California 2035 EV rules

    01 October 2022 - 00:04

    Google to build its first cloud region in Greece

    30 September 2022 - 23:30

    Germany overwhelmed by migrants, 12 of 16 federal states begin blocking refugees

    30 September 2022 - 23:00

    Iran arrests popular protest singer

    30 September 2022 - 22:33

    Astana to host three international forums in mid-October

    30 September 2022 - 22:00

    Albanian PM: Turkish Bayraktar drones to be put into service very soon

    30 September 2022 - 21:30

    President Ilham Aliyev meets with representatives of leading business communities of Bulgaria in Sofia

    PHOTO

    30 September 2022 - 20:59

    Shusha, Veliko Tarnovo sign MoU on sister city relationship

    30 September 2022 - 20:54

    Nobel Prize season arrives amid disrupted peace in Europe

    30 September 2022 - 20:48

    Bloomberg: Biden administration readies new sanctions targeting Iran’s oil exports

    30 September 2022 - 20:39

    President Aliyev: Time has come to open SOCAR office in Bulgaria

    Full text

    30 September 2022 - 20:15

    Azerbaijan unveils best exporters

    30 September 2022 - 20:12

    Russian ambassador summoned as Britain imposes new sanctions on Moscow

    30 September 2022 - 19:59

    Indonesia authorizes first domestic COVID-19 vaccine

    30 September 2022 - 19:50

    Putin signs decree to fast-track citizenship for foreigners in Russian army

    30 September 2022 - 19:40

    Podolyak: Russians to ask for withdrawal from Liman

    30 September 2022 - 19:38

    Azerbaijani, Bulgarian presidents hold joint press conference

    UPDATED/PHOTO

    30 September 2022 - 19:20

    Lithuania boosts defence budget to buy HIMARS, trucks, drones

    30 September 2022 - 19:15

    Schwarzenegger vows to fight hate during Auschwitz visit

    30 September 2022 - 19:01

    Azerbaijani arm wrestler becomes world champion

    30 September 2022 - 19:00

    Ukraine accelerates NATO membership bid

    30 September 2022 - 18:46

    Will Russia attack undersea internet cables next?

    Analysis by Politico

    30 September 2022 - 18:45

    Japan to pay up to $320M for US company's chip production

    30 September 2022 - 18:27

    Russian leader slams West’s dictatorship

    30 September 2022 - 18:20

    US to announce sanctions against Russia over annexation of four regions

    30 September 2022 - 18:19

    Turkish Armed Forces neutralize terrorists in Syria

    PHOTO

    30 September 2022 - 18:11

    Hulusi Akar: Türkiye to always support Azerbaijan in right cause

    30 September 2022 - 17:55

    US issues new sanctions on alleged Iran sanctions evaders

    30 September 2022 - 17:45

    Analytical Centre: West eyes to make peace between Armenia, Azerbaijan soon

    30 September 2022 - 17:40

    Four treaties on admission of Russia’s new territories signed

    30 September 2022 - 17:27

    ICGB authorised to transport natural gas along Gas Interconnector Greece–Bulgaria

    30 September 2022 - 17:27

    President Aliyev: "Azerbaijan, Bulgaria - strategic partners"

    Details of meeting

    30 September 2022 - 17:21

    Rights group calls on Fifa to ban Iran from World Cup over women's rights

    30 September 2022 - 17:15

    Moscow to view strikes on new territories as act of aggression against Russia - Kremlin

    30 September 2022 - 17:10

    Graduation ceremony of commando officers takes place

    PHOTO

    30 September 2022 - 17:10

    Putin: Russia not seek to restore Soviet Union

    30 September 2022 - 17:00

    Ambassador: Iranian companies to start working in liberated territories

    30 September 2022 - 16:58

    Azerbaijan toughens punishment for illegal money transfers abroad

    30 September 2022 - 16:45

    "West not ready for drastic steps against Baku"

    Hraparak reveals details of Pashinyan's closed-door meeting

    30 September 2022 - 16:38

    Sweden lifts arms embargo on Тürkiye

    30 September 2022 - 16:36

    Ukraine asks Poland, Latvia, Estonia, Lithuania, Georgia not to refuse Crimean Tatars to cross border

    30 September 2022 - 16:31

All news