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European banks to provide more than 600 million euros in recovery funds to Ukraine – POLITICO

The money is intended primarily to support the most vulnerable, such as people who have lost their homes as well as people with disabilities and large families. Ukraine expects some 2,000 families to receive new housing thanks to Council funds, the country’s Infrastructure Ministry said in a statement.

In its war against Ukraine, Russia has used energy as a weapon, Ukrainian President Volodymyr Zelenskyy said on Tuesday at the conference on Ukraine’s recovery in Berlin. “We have already lost 80 percent of heat production in Ukraine and a third of hydroelectric power production,” he said.

In addition to the energy network, the housing sector is suffering greatly from the war in Russia, according to the Ukrainian Ministry of Infrastructure.

The EBRD has significantly increased its funding to kyiv during the war, providing more than €4 billion since Russia’s full-scale invasion in February 2022.

Ukraine’s recovery will require much more, however, with reconstruction costs estimated at $486 billion over the next decade, or 2.8 times the country’s economic output in 2023, the Ukrainian government said in a report .

As part of the agreements signed in Berlin, the EU will provide financial guarantees for the EBRD programs in Ukraine: 140 million euros for financial inclusion and 37 million euros for the competitiveness and inclusion program SMEs. Some €150 million in financial guarantees and €7.5 million in technical assistance will be allocated to the Hi-Bar guarantee programme, which supports the energy sector. The rest of the money will go to the EBRD’s municipal, infrastructure and industrial resilience programme.


Sara Adm

Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe. Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
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