**EU Unveils New Ukraine Support Package**
The European Investment Bank Group (EIB) and the European Commission have announced a massive €599 million ($700 million) financing package for Ukraine’s critical infrastructure and businesses. This new funding was revealed at the Ukraine Recovery Conference on July 10.
The package focuses on three key areas: restoring energy systems damaged by Russian attacks, repairing transport networks and border crossings, and supporting small enterprises. The majority of this funding comes in the form of EIB loans backed by EU guarantees.
**A Significant Boost for Ukraine**
This new financing is a significant addition to the over €3.6 billion ($4.2 billion) already delivered by the EIB since Russia’s full-scale invasion began in 2022. This shows the bank’s ongoing commitment to supporting Ukraine during this challenging time.
According to EIB President Nadia Calvino, “The agreements announced today reflect the strength of our commitment to Ukraine, and our determination to respond to the country’s most urgent needs – through critical infrastructure, support for businesses in Ukraine and EU companies wanting to trade and export to the country.”
**A Step Towards Recovery**
This new funding package is a step towards helping Ukraine recover from the devastating effects of the war. The repair of energy systems, transport networks, and border crossings will go a long way in stabilizing the economy and improving living conditions for Ukrainians.
However, it’s worth noting that more support will be needed to ensure Ukraine’s long-term recovery and growth. The international community must continue to provide assistance to help this resilient nation rebuild and prosper.
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