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EIB to invest 600 mln euros in energy infrastructure of Ukraine

According to the European Investment Bank, the plan "will help restore and strengthen Ukraine’s energy infrastructure while also aligning it with EU standards"

BRUSSELS, October 9. /TASS/. President of the European Investment Bank (EIB) Nadia Calvino presented the so-called Ukraine Energy Rescue Plan to the EU finance ministers, under which the organization plans to invest 600 million euros in the Ukrainian energy sector, according to a press release on the bank's official website.

According to the plan, the EIB intends to provide financing for organizations that will generate electricity and heat using mobile equipment in Ukraine. Part of the funds will also be allocated for the construction of protective fortifications for key electrical substations in the republic.

According to the bank, the plan "will help restore and strengthen Ukraine’s energy infrastructure while also aligning it with EU standards."

Vice President of the European Commission Valdis Dombrovskis supported the EIB initiative.

The European Investment Bank is an autonomous institution within the European Union. It was established in 1958 with the purpose of providing loans for the construction and reconstruction of objects of interest to EU countries. The authorized capital is formed from contributions from EU member states.

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