The European Investment Bank (EIB), the EU bank, has disbursed the first tranches of the €1.59 billion package of the Ukraine Solidarity Urgent Response, supported by an EU guarantee, Report informs referring to the EC website.
The disbursed financing of €500 million will help the Ukrainian government cover priority short-term financing needs, ensure urgent repairs of damaged road, bridges and railway infrastructure.
It will also support strategic state-owned companies - Ukravtodor, Ukraine's roads agency, and Ukraine rail company Ukrzaliznytsya. Repairs of the train network, roads and bridges will help Ukraine keep people, goods and grain moving.
With Ukraine being one of the biggest exporters of grain in the world, these vital interventions will help its economy recover and improve connectivity with the EU.