EIB to allocate EUR 4B to EU countries hosting Ukrainian war refugees

The European Investment Bank (EIB) has announced a EUR 4 billion program to support EU Member States hosting Ukrainian war refugees and to develop vital social infrastructure, as part of the EIB's Ukraine Solidarity Package.

That's according to a statement posted on the EIB's website, Ukrinform reports.

"We are all devastated by the terrible destruction inflicted on Ukraine and its people, millions of whom are fleeing their country in search of peace and security. The horror we are witnessing strengthens our determination to act," said EIB President Werner Hoyer said.

The new EIB program, pending approval by the EIB’s Board of Directors, aims to finance the development of key social infrastructure for the provision of public services to refugees, including housing, schools, hospitals and kindergartens.

The financial support will be complemented by advisory support, helping local authorities in EU Member States with free technical assistance to assess local needs rapidly, and plan, prioritize and prepare the related investments. 

The EIB recalled that the EIB Board already approved the EIB Solidarity Package for Ukraine on March 4, 2022. As part of that package, between March 8 and 25 the EU Bank disbursed EUR 668 million of urgent liquidity support to the Government of Ukraine.

"With our initial Solidarity Package for Ukraine, and this new EUR 4 billion program for EU Member States, we will support Ukraine and help communities welcoming the refugees, ensuring they can offer them vital social facilities – housing, schools, hospitals," Hoyer said.