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weapons and training for the Armed Forces of Ukraine. Nato leaders will begin this work at the Washington Summit in July. Nato will oversee the training of Ukrainian soldiers at Nato training bases, support Ukraine through its planning and coordination of contributions, and manage the transfer and repair of equipment. The headquarters for coordinating assistance to Kyiv will be in Wiesbaden (Germany), where a US military base is located. In addition, there are plans for logistics hubs to be created in the eastern part of the Alliance. Almost 700 military personnel from Nato member countries and partners will be involved in these events. However, the defence ministers from Nato countries did not agree on the proposed financing plan for Ukraine, which would provide continued allocation of €40B in annual aid. Nato members will continue to discuss this issue before the summit in Washington.
The EU will provide Ukraine with €517M in reconstruction funding through EBRD programs. The EU will guarantee €140M for the EBRD Financial Inclusion Recovery Program. At the same time, the bloc will offer €30M in blended grants and €7M in technical assistance under the wartime SME financing program. Another €150M in financial guarantees and €7.5M in technical assistance are directed to the climate change mitigation guarantee program, particularly in the energy sector. The EU will also provide a €150M financial guarantee, with grants of €25M and technical assistance of €7.5M to support reconstruction in various sectors, including industry, transport, and municipal infrastructure. The EU financial guarantees are provided within the framework of the Ukrainian Investment Program. In addition, the EBRD signed financing or pre-financing agreements with six municipalities, giving Ukrainian cities access to €143M.
EIB to give Ukraine 100mn euros for social infrastructure restoration. Kyiv signed a financing agreement with the European Investment Bank under the Recovery III project at the Ukraine Recovery Conference in Berlin.
The EIB is strengthening its support for Ukraine's recovery and economic development. The European Investment Bank has announced several support programs at URC2024 in Berlin.
● The EIB Group is preparing two programs to restore Ukraine's housing stock. The first is a €230M initiative that will focus on repairing war-damaged apartment buildings with an emphasis on energy efficiency measures. The second is aimed at developing and financing affordable housing in Ukraine. It will be financed by a €200M credit program and extensive grant resources from the European Commission.
● The EIB will provide a €100M loan to reconstruct Ukrainian cities and communities affected by the war and to repair and construct schools, kindergartens, hospitals, and local transport to ensure the availability of necessary public services.
● The EIB also approved financing for the 112 emergency assistance system, railway renovation, and the modernization of the metro in Kyiv.
● Among other things, the EIB is working to create a €300M pan-European export credit guarantee mechanism for small and medium-sized EU companies that export goods or services to Ukraine. It should be operational by the end of 2024.
Stoltenberg proposes allies annually allocate €40bn in military aid to Ukraine
Nato Secretary General Jens Stoltenberg proposes that annual funding by allies for military assistance should be at least €40bn annually.
Ukraine is set to receive $2.2bn from the IMF's Extended Fund Facility (EFF), Prime Minister Denys Shmyhal announced on social media on May 31. The funding announcement comes as Ukrainian and International Monetary Fund officials reached an agreement on the fourth review of the EFF Arrangement, according to Shmyhal. The IMF's Executive Board must first approve the $2.2bn in funding, and no timeline was provided for when that approval may come. The EFF funds are meant to lend Ukraine stability amid
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