Brussels: Europe and the Arabs
The European Commission and the European Investment Bank (EIB) agreed on Tuesday to provide an EU guarantee that would enable the investment bank to provide 100 million euros in new loans to Ukraine for a rapid recovery and to finance municipal or energy infrastructure reforms.

The Commission stated - in a press statement, which it published on its official website - that this new guarantee from the European Union is one of the elements of the European Union for Ukraine (EU4U) initiative that was approved by the European Investment Bank last March and also includes the EU4Ukraine Fund, technical assistance of 100 million euros and an advisory package. Funds from the European Investment Bank. According to what the Middle East Sons Agency reported today

Commenting, Commission Chair Ursula von der Leyen said: “The EU is stepping up its support to meet Ukraine’s rapid recovery needs. In addition to the €1 billion rapid recovery support for critical sectors, the agreed EU guarantee allows the EIB to lend Ukraine an additional €100 million with conditions. "Very favorable. We are determined to restore life to all communities in Ukraine that are suffering from Russian attacks."

The Commission will use the European Fund for Sustainable Investment Plus (EFSD+), the financing arm of Neighborhood Development and International Cooperation (NDICI) - to ensure the flow of up to €100 million in new EIB loans to Ukraine.

The loan agreements, made possible by the €26.7 billion guarantee agreement signed between the Commission and the European Investment Bank in May 2022, are expected to be signed later in 2023 and disbursed as soon as Ukraine requests. While these loans will contribute to helping meet Ukraine's financial needs for rapid recovery priorities in 2023 in light of the updated assessment of Ukraine's recovery and reconstruction needs, according to the statement.