Billions of euros of investments in Ukraine! Prime Minister Denys Shmygal spoke about new projects

The Prime Minister of Ukraine Denys Shmygal announced the financial agreements reached with European partners during the Recovery Conference in Rome, which envisage billions of euros of investments in Ukraine, UNIAN reports, quoted by Focus.

According to the Prime Minister of Ukraine, the conference announced, among other things, the creation of a European flagship recovery fund "worth 500 million euros". The institution will support the recovery and reconstruction of Ukraine.

At the same time, the Ministry of Economy of Ukraine specifies that it is planned to raise 500 million euros for the fund only in 2026. The ministry expects that the fund's priorities will be investments in Ukraine's energy and infrastructure.

In addition, a number of agreements were signed in Rome to provide Ukraine with €1.8 billion in loan guarantees, €580 million in grants and blended finance under the Ukraine Facility.

Commenting on the signing of the agreement, European Commission President Ursula von der Leyen said that the EU "aims to unlock up to €10 billion in investments to rebuild destroyed homes, reopen hospitals, revive businesses and provide energy".

The Ukrainian government also added that it had reached an agreement with Switzerland to provide around €5 billion for the reconstruction of various sectors of the economy, as well as €134 million in EUR in the form of loans for the reconstruction of transport infrastructure from the European Investment Bank.

Ukrhydroenergo will receive the first tranche of a EUR 200 million loan from the same institution to restore its hydroelectric power plants. The tranche will amount to EUR 120 million.

Ukraine will receive a loan from the United Kingdom in the amount of $ 2.3 billion to strengthen its air defense. In particular, the funds will be used to finance the purchase of defense materials and other defense goods and services from the United Kingdom. According to the press service of the Ministry of Finance, the loan will be repaid over 19 years. The grace period is 6 years.

In addition, Ukrainian farmers have been promised assistance in the amount of EUR 50 million. euros in the form of grants.

"We have agreed with the Council of Europe Development Bank to finance housing certificates under the eRestoration program. The deal is worth 100 million euros. In addition, the bank will provide a loan of 200 million euros to finance the program to assist internally displaced persons," adds Shmygal.