Lithuania and 15 other EU member states have agreed on a special European Investment Bank fund for Ukraine to support the country’s near-term reconstruction, and pledged to allocate more than 400 million euros.
Lithuania will contribute 10 million euros, the Finance Ministry said on Friday.
The EIB’s new EU4U Fund will help to rapidly scale up support for Ukraine’s most urgent infrastructure needs and sustain the economy, the statement reads.
“We welcome the establishment of the EU4U Fund, to which we commit to contribute 10 million euros, and which will enable the Bank to continue financing urgent infrastructure projects and supporting resilience of Ukraine’s economy,” Lithuanian Finance Minister Gintarė Skaistė was quoted in the statement.
For his part, EIB President Werner Hoyer said “these and future pledges will help Ukraine’s economy and its staunch resistance to the Russian invasion”.
Ukrainian Prime Minister Denys Shmyhal said: “Ukraine urgently needs international support in financing a rapid recovery. In particular, we have identified energy, housing, critical social infrastructure and the private sector as priorities.”
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