About past, present and future of Ukraine

Search mobile

Main Diplomacy Ukraine receives EUR 50 mln for vaccination programme from European Investment Bank

Diplomacy

Ukraine receives EUR 50 mln for vaccination programme from European Investment Bank

341
Ukraine receives EUR 50 mln for vaccination programme from European Investment Bank

Share this article


On December 10, the European Investment Bank (EIB) allocated EUR 50 million of loans to Ukraine, which will be used to finance coronavirus (COVID-19) vaccination programme in the country, in particular, to purchase a sufficient amount of vaccines against COVID-19.


According to the EU Delegation to Ukraine press service, the loan will support the health system and increase Ukraine’s viability in the fight against COVID-19 pandemic. “This financial transaction is part of Team Europe’s overall initiative to respond to the challenges of the COVID-19 pandemic,” the EU Delegation to Ukraine said in a statement.

To make vaccines more affordable for Ukrainians and strengthen the country’s ability to respond to the COVID-19 crisis and overcome its devastating consequences, the EIB has repurposed part of the funds of the current financial agreement.

This is the Ukraine Municipal Infrastructure Programme (UMIP), signed between the EIB and Ukraine in 2015 in the amount of EUR 400 million. The EIB has allocated EUR 50 million under this agreement to finance the COVID-19 response. The agreement on the repurposing of the EUR 50 million loan was ratified by Ukraine in October 2021.

EU Delegation to Ukraine, press service

According to Head of the EIB Resident Representation in Ukraine Jean-Erik de Zagon, the EIB is pleased to support the efforts of the Ukrainian government in the fight against COVID-19.

The banker said that to raise funds more quickly, the EIB managed to amend the already approved and existing loan. EUR 50 million repurposed for this aim will be used for the prompt procurement of vaccines. This is a necessary step to tackle the health and economic challenges of COVID-19, and to ensure a better future.

The procurement of vaccines against COVID-19 for funds provided by the EIB will be conducted by Crown Agents, previously approved by the Ukrainian government.


The Odessa Journal
more articles

Top article

The Ministry of Defense has signed a contract for the construction of a service center for repairing drones in Ukraine
War

The Ministry of Defense has signed a contract ...

Dmytro Kuleba: Ukraine and Croatia have agreed to use Croatian ports for exporting Ukrainian grain
Business

Dmytro Kuleba: Ukraine and Croatia have agree ...

New sanctions: Defence industry, political parties and individuals linked to oligarchs
Business

New sanctions: Defence industry, political pa ...

Volodymyr Zelensky: We are preparing for the next Ramstein meeting, we expect solidly grounded decisions to meet the prospects on the battlefield
War

Volodymyr Zelensky: We are preparing for the ...