The European Investment Bank (EIB) and the EU member states are providing over 400 million euros (£342 million) for the reconstruction of Ukraine, Prime Minister Denys Shmyhal said on July 13.
“This will help fund the most urgent reconstruction projects for Ukrainians, including critical infrastructure. Grateful to the partners for the quick and timely assistance!” Shmyhal tweeted.
The EU, its member states, and the European financial institutions have provided Ukraine with £37 billion in economic, social, and financial assistance since the start of the full-scale invasion.
On June 20, the EU proposed a four-year financial assistance package worth £42 billion, administered in loans and grants.
According to the World Bank’s assessment from March, Ukraine will need at least £313 billion for recovery and reconstruction. This figure equals 2.6 times Ukraine’s projected gross domestic product.