European Investment Bank to Provide Financial Support for Ukraine Reconstruction through Special Fund

The European Investment Bank (EIB) announced on the 27th (local time) that it will provide financial support for the reconstruction of Ukraine, according to the political news outlet Politico.

According to the report, Werner Hoyer, President of the EIB, is scheduled to visit Kyiv, Ukraine, on the same day to announce the support plan. The EIB will support reconstruction projects through a special EIB fund for Ukraine, financed by contributions from European Union (EU) member states.

This visit to Kyiv by President Hoyer is his first since the outbreak of the war in February last year. It is also reported that President Hoyer plans to meet with Volodymyr Zelensky, President of Ukraine.

[Image source=Yonhap News]

V?ra Jourov?, EU Vice-President for Values and Transparency, will also visit Ukraine on the same day. Ahead of the EU summit scheduled for mid-next month, Vice-President Jourov? is expected to discuss with Ukrainian officials the implementation of necessary reforms required to start EU accession negotiations.

Earlier, the European Commission proposed to the board, composed of 27 member states, to open accession negotiations with Ukraine in the '2023 EU Enlargement Package' report adopted earlier this month.

At the same time, Ukraine was advised to complete reforms in the remaining three areas, including anti-corruption measures, before the first official accession negotiations begin.

This content was produced with the assistance of AI translation services.