‘Stand up for Ukraine’: EIB pledges extra €4 billion to support Ukrainian war refugees

The European Investment Bank (EIB), the Bank of the European Union, has announced a €4 billion programme for 2022 and 2023 to help cities and regions in EU Member States address urgent investment needs and meet the challenges of welcoming and integrating war refugees from Ukraine.

The new EIB programme, pending approval by the EIB’s Board of Directors, aims to finance the development of key social infrastructure for the provision of public services to refugees, including housing, schools, hospitals and kindergartens. The financial support will be complemented by advisory support, helping local authorities in EU Member States with free technical assistance to assess local needs rapidly, and plan, prioritise and prepare related investments.

The EIB Board already approved the EIB Solidarity Package for Ukraine on 4 March 2022. As part of that package, between 8 and 25 March the EU Bank disbursed €668 million of urgent liquidity support to the Ukrainian government. In addition, the EIB is working on providing further financing to enable the government to continue providing critical public services for citizens that remained in Ukraine. These funds are foreseen to support transport, energy, urban development and digital projects, and are part of the Solidarity Package for Ukraine prepared in cooperation with the European Commission.

The EIB will continue to explore possibilities to support Ukraine and Ukrainian refugees jointly with the European Commission, in particular through the Social Investment and Skills Window of the recently started InvestEU programme.

EIB President Werner Hoyer said: “We are all devastated by the terrible destruction inflicted on Ukraine and its people, millions of whom are fleeing their country in search of peace and security. The horror we are witnessing strengthens our determination to act. With our initial Solidarity Package for Ukraine, and this new €4 billion programme for EU Member States, we will support Ukraine and help communities welcoming the refugees, ensuring they can offer them vital social facilities – housing, schools, hospitals.”

The EIB pledged its support at the ‘Stand Up For Ukraine’ global fundraising event for refugees and internally displaced people in Ukraine launched by the European Commission, the Government of Canada and the international civil society organization Global Citizen on Saturday in Warsaw.

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Press release