Lithuania allocates EUR 1M to Ukraine through CEB's fund

Lithuania allocates EUR 1M to Ukraine through CEB's fund

Lithuanian Finance Minister Gintare Skaiste and Governor of the Council of Europe Development Bank (CEB) Carlo Monticelli signed an agreement in Vilnius on Monday, under which Lithuania will send EUR 1 million to the CEB's Ukraine Solidarity Fund for the recovery of the country.

That's according to LRT, Ukrinform reports.

The goal of the Ukraine Solidarity Fund is to support forced internally displaced persons and promote the reconstruction of Ukraine. The funds from this fund will be used to meet various war-related social needs such as ensuring the well-being and integration of IDPs and restoring the social infrastructure of the most important areas of the country.

According to Skaiste, the fund's main focus will be on Ukraine's social and medical infrastructure, as well as the reconstruction of residential buildings.

Read also: Ukraine, Lithuania to cooperate in defense research and development

"We consider this own contribution as part of a broader strategy. Lithuania allocated more than 1.9% of its GDP to support Ukraine through various instruments of financial and direct support. This is one of the highest indicators among all countries that are providing aid [to Ukraine]," Skaiste said after signing the contract.

"During this period, it is necessary to help Ukrainians not only on the military front, but also in the social sphere, where there are many problems," she added.

Skaiste and Monticelli also discussed the CEB's investments in Lithuania and the bank's role in providing support to Ukraine.

In late November, the Council of Europe Development Bank approved the first joint project with Ukraine in the field of health care, valued at EUR 100 million.

Photo: Ž. Gedvilo/BNS nuotr.

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