Ukraine is to receive guarantees for loans and grants worth €1.4 billion ($1.5 billion) from the European Union to support Ukrainian companies and reconstruct the country's critical infrastructure after the Russian invasion.
"The resilience of the Ukrainian people is inspiring," European Investment Bank President Nadia Calviño said in a statement on Tuesday to announce the financing for rebuilding hospitals, roads and power lines
Finances worth €1.4 billion breaks down into €1 billion of loan guarantees and €400 million of grants.
The EU loan guarantees will enable Ukrainian banks to grant loans worth more than €1 billion to small and medium-sized enterprises in Ukraine.
The European Investment Bank (EIB) and the European Commission signed agreements for the funding support at an international conference in Berlin.
Another €100 million is to restore basic public services in Ukrainian cities such as a clean water supply and social housing.
The EU has pledged to help Ukraine rebuild after the full-scale Russian invasion in 2022. Since the beginning of the war, the EIB has disbursed €2 billion euros.