EIB Delivers Over €60 Million in EU-Backed Funding to Rebuild Critical Infrastructure in Ukraine

EIB Delivers Over €60 Million in EU-Backed Funding to Rebuild Critical Infrastructure in Ukraine

(IN BRIEF) The European Investment Bank (EIB) has committed over €60 million in EU-backed funding to support critical infrastructure projects in Ukraine as part of its Ukraine Solidarity Urgent Response package. This includes €43.48 million to reconstruct the war-damaged M01 Kyiv-Chernihiv highway, enhancing connectivity and safety, and €17.25 million to modernize public transport in Kyiv, Odesa, and Sumy with new buses, trams, and trolleybuses. These efforts aim to restore vital transport links, improve mobility, and support Ukraine’s economic resilience. The initiative underscores the EU’s ongoing commitment to aiding Ukraine’s recovery and rebuilding efforts amid significant challenges.

(PRESS RELEASE) LUXEMBOURG, 7-Dec-2024 — /EuropaWire/ — The European Investment Bank (EIB) has announced over €60 million in EU guarantee-supported funding to address vital infrastructure needs in Ukraine. As part of the EIB’s Ukraine Solidarity Urgent Response package, developed in partnership with the European Commission, this funding will focus on restoring key transport networks and modernizing urban public transport in cities like Kyiv, Odesa, and Sumy. The initiative highlights the European Union’s steadfast commitment to supporting Ukraine’s recovery and resilience amidst ongoing challenges.

Rebuilding the M01 Highway

A significant portion of the funding—€43.48 million—is allocated to reconstructing the M01 Kyiv-Chernihiv-Novi Yarylovychi highway, a critical transport route for domestic travel and international trade. Severely damaged during the early stages of the war in 2022, the highway’s restoration under the European Roads Ukraine II project will improve road quality and safety. The project is managed by Ukraine’s State Agency for Restoration and Infrastructure Development and aims to enhance connectivity and support economic activity.

Modernizing Urban Public Transport

The remaining €17.25 million will finance the renewal of urban public transport systems in Kyiv, Odesa, and Sumy. The funding supports the procurement of new buses, trolleybuses, and trams, along with spare parts and maintenance equipment. This investment ensures reliable and efficient transportation for residents and businesses, while aligning Ukraine’s urban transport systems with EU standards under the Ukraine Urban Public Transport Project.

Statements from Leaders

EIB Vice-President Teresa Czerwińska emphasized the importance of these investments:
“The European Investment Bank remains committed to Ukraine’s recovery. By addressing critical infrastructure needs, from rebuilding the M01 highway to enhancing urban public transport, we are supporting mobility, safety, and economic connectivity for Ukrainians. Together with our partners, we are working toward a stronger and more resilient Ukraine.”

European Commissioner Valdis Dombrovskis added:
“This €60 million in EU-guaranteed funding will help restore vital transport infrastructure and improve daily life for Ukrainian citizens. It also underscores the EU’s unwavering support for Ukraine in these challenging times.”

Building a Resilient Future

Since 2022, the EIB’s Ukraine Solidarity Urgent Response package has provided over €2 billion in financial support to Ukraine. By focusing on critical infrastructure and public services, these investments are paving the way for a stronger, more connected, and resilient Ukraine.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of the Global Gateway. We aim to support €100 billion of investment by the end of 2027, around one-third of the overall target of this EU initiative. With Team Europe, EIB Global fosters strong, focused partnerships, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to people, companies and institutions through our offices around the world.

Media Contact:

Olga Sushytska
o.sushytska@ext.eib.org
+380 443908018

Press Office

press@eib.org
+352 43791

SOURCE: European Investment Bank