The European Union is giving Ukraine almost €600 million to rebuild its energy systems, fix roads and bridges, and help businesses survive the war. The European Investment Bank (EIB) and European Commission announced the new money at a Ukraine Recovery Conference in Rome. Most of it comes as EIB loans backed by EU guarantees. The focus is on critical infrastructure like hydropower plants, heating systems, roads, bridges, and border crossings. EIB President Nadia Calviño said the deals show “the strength of our commitment to Ukraine” and target the country’s most urgent needs.
The money will help restore Ukraine’s damaged infrastructure. Hydropower plants that provide electricity to millions of Ukrainians will get rebuilt. Municipal heating systems that keep homes warm during harsh winters will be upgraded. Key roads and bridges that connect communities will be repaired. Border crossings will also get improvements to make trade and movement easier.
Small and medium businesses get a big boost through new loans and EU-backed guarantees. Ukrainian banks including Ukrgasbank, Ukreximbank, Bank Lviv, Kredobank, and a subsidiary of Greece’s Piraeus Bank will deliver this support. This will unlock more money for small Ukrainian companies trying to survive and rebuild during wartime. The EIB Group is also expanding export support, with 10 EU countries joining a program to help European businesses trade with Ukraine.
The EIB launched something called Ukraine FIRST, an infrastructure project facility developed with the European Bank for Reconstruction and Development and the European Commission. This program helps Ukraine’s government turn recovery plans into real investments. European Commissioner Marta Kos said the finance deals will help build “a strong, modern Ukraine” with better energy systems, transport networks, and businesses.
Ukraine’s Deputy Prime Minister Oleksii Kuleba said communities are at the heart of restoration work, especially in regions hit hardest by Russian attacks. “This starts with providing reliable infrastructure — roads and bridges that reconnect communities and power solutions that secure our energy system,” he said. The EU also welcomed plans for a new fund focused on Ukraine’s reconstruction.
