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EIB lends Ukraine €450 million to support reconstruction, opens regional hub in Kyiv

EIB President Werner Hoyer (from back) meets with Ukrainian Prime Minister Denys Shmyhal (on right). (Photo by Ukrainian government)

The European Investment Bank (EIB) issued two loans totaling €450 million to help Ukraine repair damaged infrastructure and support the country's economy, the lender said during a high-level visit to Kyiv.

The loans, financed by the bank’s member-backed EU for Ukraine fund, comes as EIB President Werner Hoyer visits Ukraine for the first time since the full-scale Russian invasion of February 2022.

The EIB, which is owned by European Union member states, gave few further details of the loans or the projects they are destined to support, only stating that "the initiatives are currently under discussion" with Ukrainian authorities.

Hoyer also inaugurated the new EIB Regional Hub for Eastern Europe in Kyiv, which will work with offices in Moldova and Georgia and will be "instrumental in supporting recovery and reconstruction efforts," the EIB said in a press release.

The EIB said it now has a portfolio of projects in Ukraine valued at €7.3 billion, mainly supporting transport, energy and municipal infrastructure. Last week, the lender also disbursed €20 million to the State Export-Import Bank of Ukraine (Ukreximbank), the last tranche of a €300 million debt facility meant to support Ukrainian small and medium-sized enterprises.

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