The EIB credit line will help Member States to develop key infrastructure and services for refugees and host communities
The Board of Directors of the European Investment Bank (EIB) have approved a € 4 billion credit line (or programme loan) to European Union (E.U.) Member States welcome the Ukrainian refugees by providing them the infrastructure and basic amenities.
The EIB credit line follows the pledge announced by the President of EIB – Werner Hoyer on April 9, 2022, in Warsaw at “Stand Up for Ukraine”, a global pledging campaign for Ukraine and its refugees.
The campaign, organised by the European Commission and Canada in partnership with Global Citizen, raised € 9.1 billion for people fleeing the Russian invasion, inside Ukraine and abroad, including € 4 billion from EIB and € 1 billion from the European Commission.
The E.U. is providing constant support to Member States in meeting the needs of Ukrainian refugees by providing assistance at the border, reception and civil protection. The E.U. is making sure that Ukrainians fleeing war have access to education, healthcare, accommodation and jobs.
Taking it to twitter, the European Commission tweeted,
We committed to support the integration of Ukrainian refugees in the EU at our #StandUpforUkraine pledging event.
— European Commission 🇪🇺 (@EU_Commission) May 19, 2022
Now we deliver with the approval of @EIB €4 billion credit line to address urgent investment needs and help refugees start a new life.#StandWithUkraine pic.twitter.com/1gejzjM2ec
Speaking on the occasion, the President of European Commission – Ursula von der Leyen said, “Europe provides a safe shelter to millions of people who have fled Russia’s invasion of Ukraine. The European Union is here to support Member States hosting refugees from Ukraine, with funding, and also with advisory services to help deploy investments rapidly and efficiently, to cover their short and medium-term needs. Our wide-ranging cooperation with the EIB is essential for delivering this tangible solidarity.”
Werner Hoyer said, “Since Russia’s invasion of Ukraine, more than 6 million people – mainly women, children and older people – have arrived in the EU. I am pleased that the EIB Board has approved a €4 billion credit line along with the EMBRACE Advisory Platform to help Member States to host and integrate Ukrainian war refugees.”
The EIB credit line will help Member States to develop key infrastructure and services for refugees and host communities, such as housing, schools, hospitals and access to jobs. The EIB financing can also cover eligible operational expenditures related to the supply of equipment, facilities and services for the integration of war refugees.
This financial package will be complemented by EMBRACE Advisory Platform, a new initiative by the EIB and the European Commission. Through EMBRACE, E.U. Member States can receive targeted advisory assistance to rapidly deploy investments, projects and instruments that support their communities.
The EIB tweeted,
As the terrible war rages on, we continue to #StandWithUkraine and the #UkraineWar refugees.
— European Investment Bank (@EIB) May 19, 2022
New €4 bn support, along with the EMBRACE Advisory Platform, will help EU host countries develop vital public infrastructure for host & refugee communities 🫂 🇺🇦 https://t.co/fDl12Zhv2o pic.twitter.com/JOh5KnYdn8
Managed by the EIB and building on the InvestEU Advisory Hub, JASPERS and fi-compass initiatives, the EMBRACE platform will offer advisory services targeting public sector project promoters, such as national authorities, cities, regional administrations, managing authorities responsible for EU funds, national promotional banks and other financial institutions.
For the records, the EIB is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards E.U. policy goals.
