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 Ukraine, EIB sign financial assistance agreement for 600 million euros

The Ukrainian government, the European Investment Bank (EIB) and the European Commission signed 600 million euros loan agreement to fund the state reform and infrastructure development program.

As reported by Censor.NET citing Ukrinform, the signing ceremony was held at the office of the European Commission on Monday, Dec. 19.

A package of four loans will support the program called "Higher Education, Energy Efficiency and Sustainable Development" (120 million euros); Ukrainian railroads upgrade project (120 million euros); development and modernization of Nibulon LLC logistics infrastructure (71 million euros); small and medium business in Ukraine (260 million euros).

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According to the EIB, this financial institution fulfills its obligations in terms of financial assistance to Ukraine provided by the European Union which amounts to 3 billion euros in 2014-2016 out of 11 billion euros total package.

Ukraine and the EIB also signed a Memorandum of Understanding defining the importance of continued cooperation after 2016.

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