The European Investment Bank (EIB), the lending arm of the European Union, says it has disbursed 500 million euros ($500 million) to Ukraine as part of its Solidarity Urgent Response package for the country as it fights to repel Russia's invasion.
The EIB said in a statement on September 15 that the funds are part of a 1.59-billion-euro package to support Ukraine, which is backed by guarantees from the EU budget.
The 500 million euros are aimed at helping the Ukrainian government cover priority short-term financing needs and ensure urgent repairs of damaged roads, bridges, and railway infrastructure, the statement said.
"We are working closely with the government of Ukraine to ensure that the country can maintain and resume its most critical functions in the face of such enormous challenges and suffering," EIB President Werner Hoyer said in the statement.
Ukraine's finance minister, Sergii Marchenko, said the funds are crucial for the country's economic stability amid the war, which is now in its seventh month.
