On October 25, 2024, the Polish government announced a contribution of €25 million to the European Investment Bank's (EIB) fund aimed at supporting Ukraine's reconstruction efforts. This brings the total funds in the 'EU for Ukraine' initiative to €398.35 million.
The EU4U fund, established by the EIB last year, focuses on rebuilding infrastructure, restoring essential services, and stimulating economic growth in Ukraine. To date, 14 EU member states, including Belgium, Croatia, Cyprus, Denmark, Estonia, Finland, France, Spain, the Netherlands, Latvia, Lithuania, Luxembourg, and Italy, have also contributed.
EIB Vice President Teresa Czerwińska remarked that Poland's participation is a significant step towards strengthening Ukraine's economic resilience. Jakub Wiśniewski, Deputy Minister of Foreign Affairs, emphasized that supporting Ukraine has long been a priority for Poland, expressing hope that the funds will aid Ukraine's economic modernization on its path to EU membership.
The fund has already supported several projects, including a €25 million initiative to bolster small and medium-sized enterprises (SMEs) in Ukraine and Moldova, as well as €50 million allocated for new metro cars in Kyiv. Upcoming projects include the renovation of damaged residential buildings, repairs to critical Ukrainian export routes, and the establishment of a crisis response line for life-threatening situations.
The European Investment Bank, owned by EU member states, provides long-term loans to finance investments that contribute to EU policy objectives. The EIB has been active in Ukraine since 2007 and has provided over €2 billion in immediate assistance for infrastructure repairs since the onset of the Russian invasion.