EIB allocates $2 billion for Ukraine’s housing, energy, and infrastructure

The European Investment Bank (EIB) has committed $2 billion in financial support to Ukraine, President Volodymyr Zelenskyy announced in his evening address.

“I just had a meeting with the head of the European Investment Bank. It's about support — another $2 billion for Ukraine. These are funds for our energy, for our housing programs, for infrastructure projects. I am grateful for the help!” Zelenskyy said, Caliber.Az reports via foreign media outlets.

Earlier, Prime Minister Denis Shmyhal revealed that the EIB would finance social projects in Ukraine with €116.5 million.

According to the Ukrainian Cabinet, the EIB’s portfolio in Ukraine currently includes 25 projects, totalling €4.95 billion, with more than €2 billion allocated since February 2022.

Kyiv has repeatedly stated that it can only fund its military expenditures independently, with all other budgetary needs being covered through foreign aid.

In a recent statement, US President Donald Trump, during his election campaign, emphasized his plan to end the Ukrainian conflict swiftly.

Many experts expressed concerns that US financial support for Ukraine might decrease if he were to win, and Zelenskyy acknowledged that Europe would likely have to take on the primary responsibility for supporting Ukraine.

Earlier this month, the US administration effectively halted the activities of the US Agency for International Development (USAID). In response, Zelenskyy urged the Ukrainian government to secure new international funding sources within a month, as the future of US aid remains uncertain.

By Tamilla Hasanova