EIB approves €4 billion credit line to support Ukrainian refugees in all EU countries

Published in Economics
Thursday, 19 May 2022 16:54

On 18 May, the Board of Directors of the European Investment Bank (EIB) approved a €4 billion credit line (or programme loan) to help national authorities, cities, regions and local communities in all EU Member States address urgent investment needs and help welcome and integrate people fleeing the war against Ukraine.

The EIB pledged these funds back in April, at ‘Stand Up for Ukraine’, a global pledging campaign for Ukraine and its refugees, but board approval was required. The EU and Canada then raised €9.1, including €4 billion from the EIB and €1 billion from the European Commission.

The EIB credit line will help to provide this support by making financing available to the development of key infrastructure and services for refugees and host communities, such as housing, schools, hospitals and access to jobs. The financing can also cover eligible operational expenditures related to the supply of equipment, facilities and services for the integration of war refugees.

This financial package will be complemented by EIB advisory support thanks to the EMBRACE Advisory Platform, a new initiative by the EIB and the European Commission.

All EU Member States can make use of this funding opportunity and bespoke advisory for projects that help refugees start a new life in their host countries,” said EIB President Werner Hoyer. “This initiative comes together with the €668 million support we gave in early March to the Government of Ukraine to cover their urgent liquidity needs; both are part of our Solidarity Package for Ukraine, which we set up together with the European Commission.

Find out more

Press release

Read 338 times

Related items

  • European Union and Georgia hold Strategic Security Dialogue

    The fifth high-level EU–Georgia Strategic Security Dialogue took place on 25 January 2023 in Tbilisi. It reflected the strong level of commitment by both parties to take cooperation forward, including on foreign and security policy, in line with the EU-Georgia Association Agreement. 

    The parties highlighted the historic importance of the decision of the European Council of 23 June 2022 to recognise the European perspective to Georgia.

    The participants discussed the consequences of the conflict between Russia and Georgia in August 2008,  including the conflict dynamics in the Georgian regions of Abkhazia and Tskhinvali region/South Ossetia. They called on the Russian Federation to fully implement the EU-mediated 12 August 2008 ceasefire Agreement. 

    They also highlighted the important role of the EU Monitoring Mission for peace and security in Georgia, and underlined the necessity of ensuring the full implementation of its mandate. The European Union reaffirmed its unwavering support for Georgia’s sovereignty and territorial integrity within its internationally recognised borders.

    The meetings of the high-level EU–Georgia Strategic Security Dialogue are held once a year and cover issues of common interest in the field of foreign and security policy.

    Find out more

    Press release

  • EU agrees extra €500 million of military support for Ukraine

    The Foreign Council of the European Union reached political agreement for a 7th tranche of military support to Ukraine worth €500 million. 

    The Council also agreed on an additional assistance measure worth €45 million for the Ukrainian forces being trained by the EU’s military training mission, EUMAM Ukraine. This brings the total military support under the European Peace Facility to €3.6 billion. According to EU High Representative Josep Borrell, the EU’s military, financial, economic and humanitarian support for Ukraine has now reached nearly €50 billion.

    Before the Council discussed Russia’s aggression against Ukraine, Ukrainian Foreign Minister Dmytro Kuleba addressed EU foreign ministers via video conference and briefed them on recent developments on the ground and on Ukraine’s current priorities.

    Regarding the creation of an accountability mechanism, EU foreign ministers stressed the importance of preserving the crucial role of the International Criminal Court in international criminal justice and expressed broad support for the establishment of the International Prosecutor’s Office in The Hague as a first step.

    Regarding the effectiveness of sanctions, Josep Borrell noted that Russian oil (Urals) sells for US $40 a barrel while Brent sells for US$80. “This means that the Russian oil is being sold at a discount of 50%, and it is being bought by mainly India and China,” said Borrell. “So, it is losing US$40 per barrel. It is a big hit on Russia’s financial stability.”  

    Find out more

    Press release

  • ​Ilia Darchiashvili has met with the Deputy Secretary General/Political Director of the European External Action Service

    On 24 January 2023, a meeting was held between the Minister of Foreign Affairs of Georgia, Ilia Darchiashvili, and the Deputy Secretary General/Political Director of European External Action Service, Enrique Mora. He visited Tbilisi on 25 January  as part of the Georgia-EU high-level strategic dialogue on security issues.
    Discussions focused on current issues and priority areas of the Georgia-EU cooperation agenda. The sides highlighted the historic decision of the 2022 European Council to recognize Georgia's European perspective, which formally opened the country's path to EU membership. Special attention was paid to the importance of strengthening the Black Sea connectivity between Georgia and the European Union and the role of Georgia in strengthening the energy security of the European Union.
    At the meeting, special attention was paid to the security challenges and the risks, which, taking into account the current geopolitical background, are an acute problem in the region. The European Union once again emphasized its strong support for the territorial integrity of Georgia within the internationally recognized borders and its readiness to continue its active involvement, including the functioning of the monitoring mission, which is the only international mechanism on the ground. The parties also emphasized the importance of continuing joint efforts, which will contribute to the process of Georgia's accession to the European Union and ensure the strengthening of peace and stability in the region.

  • EU-supported initiative provides first aid training for 32 kindergarten staff in Telavi

    The European Union in Georgia, Denmark, UNDP in Georgia and the National Association of Local Authorities of Georgia (NALAG) have helped kindergartens in Telavi municipality of Georgia to organise a first aid training course for their staff.

    The initiative covered 32 pre-schools. Two kindergartens received additional support to equip doctors’ offices in their premises.

    The importance of these courses is due to the fact that Georgian legislation obliges kindergartens to certify their first aid personnel in order to be allowed to protect children’s health and prevent accidents.

    This initiative was selected as part of a grant competition funded by the EU and Denmark to improve management, policies and services in municipalities in Georgia.

    Find out more

    Press release

  • Humanitarian aid: EU increases funding to €1.7 billion for 2023

    The European Union has adopted its initial annual humanitarian budget of €1.7 billion for 2023.

    EU humanitarian aid helps those affected by natural disasters and military conflicts, including forcibly displaced or trapped populations as well as host communities. Assistance is mainly provided through the EU Civil Protection Mechanism.

    A total of €207.8 million from this budget will be directed to Southeast Europe and the European Neighbourhood, addressing mostly the consequences of Russia’s war of aggression in Ukraine, as well as funding projects for ongoing needs in the Caucasus.

    Another €141.5 million will be used to answer sudden onset emergencies in 2023, €122 million are reserved for unforeseen humanitarian crises that can arise throughout the year, and €108.2 million will be committed to horizontal activities, innovative projects and policy initiatives.

    “Humanitarian needs are rising steeply. Russia’s war of aggression against Ukraine has made a bad situation dramatically worse. Today, the number of people in need of life-saving assistance worldwide is higher than the population of the US,” said Commissioner for Crisis Management, Janez Lenarčič. “The European Commission’s funding for 2023 will continue to make sure that humanitarian assistance is available for the most vulnerable, no matter who and where they are.”

    Lenarčič also called for a shared responsibility for the entire global community, mentioning that currently only 10 largest donors provide for more than 80% of all humanitarian funding.

    Find out more

    Press release

    EU Civil Protection Mechanism

Business News

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi 2015 forum started today. Following the success of the inaugural Routes Silk Road...

Agreement between SES and GEE

Agreement between SES and GEE

A new multi-year agreement was signed between worldwide satellite operator SES and Global Eagle Ente...

Visa free regime to impose for 15 February

Visa free regime to impose for 15 February

The visa regime imposed by Georgia to Iran has been cancelled for 15 February,” -the Deputy Ambassad...

USA to allocate 63 million US dollars for Georgia

USA to allocate 63 million US dollars for Georgia

U.S. Department of State to allocate 63 million US dollars for Georgia. According to the budgetary d...

MOST READ

« February 2023 »
Mon Tue Wed Thu Fri Sat Sun
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28          

About

The News Agency,
NEWSDAY.GE is
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More

 

Contact

NEWSDAY Ltd.
Lechkhumi street.43

Georgia,Tbilisi

Phone: (+995 32) 257 91 11
E-mail: avtandil@yahoo.com

 

 

 

Social Media