**EU’s Lending Arm Invests $1.03 Billion in Ukraine**
The European Investment Bank (EIB) has signed agreements to provide nearly 1 billion euros ($1.03 billion) in investments for Ukraine’s public and private sectors. This move comes as the US considers cutting funding to development projects in the country.
**Uncertainty Over US Funding**
US President Donald Trump’s decision to freeze all foreign assistance has left many projects in Ukraine uncertain about their future. These projects range from critical infrastructure to civil society development.
**EIB’s Role**
The EIB, led by President Nadia Calvino, discussed Ukraine’s urgent funding needs with Prime Minister Denys Shmyhal. The bank aims to fill gaps if international partners withdraw their support. Key areas where the EIB will step up its support include border management, transport, energy, and municipalities.
**Investments Announced**
The investment includes:
* 420 million euros ($433 million) for Ukraine’s public sector to restore critical infrastructure like energy, heating, water supply, hospitals, schools, and social housing.
* Close to 500 million euros ($515 million) for small and medium-sized businesses across the country, including in front-line regions.
**Additional Funding**
The German Economy Ministry will provide a 16.5-million-euro ($17 million) loan through the EIB’s climate initiative fund to finance renewable energy projects in Ukraine.
**Past Commitments**
Since Russia’s full-scale invasion, the EIB has delivered over 2.2 billion euros ($2.26 billion) in financing mainly dedicated to repairing and modernizing Ukraine’s municipal infrastructure.
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