EIB – Rebuilding Ukraine,again

The EIB announced July 25 that it will provide an additional €1.59 billion loan to Ukraine to repair damaged infrastructure and to resume critically important projects.

The loan, which is backed by guarantees from the EU budget and comes with favourable terms, follows an emergency support package of €668 million that was quickly disbursed at the beginning of the war.

Roy Draycott, a senior civil engineer at the EIB, spent six years in the Kyiv office overseeing projects to rebuild infrastructure destroyed during Russia’s annexation of the Crimean Peninsula and two large swaths of eastern Ukraine in 2014.

The projects he managed included repairs to hospitals, schools, libraries, sports facilities, district heating systems and women’s centres and shelters.

Many of these projects were bombed and damaged again in recent fighting. Draycott talks about his involvement in Ukraine and the European Investment Bank’s support for rebuilding the country once more.

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