The European Investment Bank (EIB) presented a new financial instrument at the Ukraine Recovery Conference in Lugano, Switzerland, on 4 and 5 July. The new EU-Ukraine Gateway Trust Fund aims to support urgent and long-term investments in Ukraine’s recovery.
According to the EIB, the new fund can contribute to Ukraine’s resilience, the creation of a sustainable and smart infrastructure, the overall restoration of the economy and Ukraine’s accession to the EU.
EIB Vice President Teresa Czerwinska said in Lugano that the Bank welcomes the first comprehensive recovery plan for Ukraine, presented at the сonference: “We stand ready to offer our technical and financial expertise in the further elaboration of Ukraine’s recovery strategy and to help the country exit the emergency mode and start rebuilding its infrastructure.” She added that the new instrument “catalyses private and public investments in this direction”.
The instrument could be operational in a matter of weeks and would be tailored to the political steer and control requirements of the Ukraine Reconstruction Platform envisaged by the EU.
The fund, according to the EIB, would be a comprehensive instrument, including guarantees, investment grants (which would partly be in the form of loans), and technical assistance and advisory services to improve the quality of projects and their subsequent implementation.
In the fifth month of Russia’s full-scale invasion of Ukraine, the EIB’s solidarity assistance reached nearly €4.7 billion, to meet Ukraine’s immediate liquidity needs and support Ukrainian refugees.
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