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The Kyiv Independent’s contributor Ignatius Ivlev-Yorke spent a day with a mobile team from the State Emergency Service in Nikopol in the south of Ukraine as they responded to relentless drone, artillery, and mortar strikes from Russian forces just across the Dnipro River. Nikopol is located across from the Russian-occupied Zaporizhzhia Nuclear Power Plant in the city of Enerhodar.

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EIB to give Ukraine 100 million euros for social infrastructure restoration

2 min read
EIB to give Ukraine 100 million euros for social infrastructure restoration
Flags of European Union member states fly outside the European Investment Bank in Luxembourg, on July 15, 2019. (Geert Vanden Wijngaert/Bloomberg via Getty Images)

The European Investment Bank (EIB) will provide Ukraine with 100 million euros ($107 million) to assist with the restoration and modernization of the country's social infrastructure, it was reported on June 11.

Kyiv signed a financing agreement with the European Investment Bank under the Recovery III project at the Ukraine Recovery Conference in Berlin.

"The European Investment Bank plays an important role as a financial partner of Ukraine in the implementation of a number of projects in many sectors of the economy," Ukraine's Deputy Finance Minister, Olga Zykova, said during the signing in comments reported on the Finance Ministry's website.

"In this difficult time for our country, sustainable economic development, along with meeting the basic needs of citizens and returning Ukrainians home, is impossible without efficiently functioning key critical and social infrastructure facilities."

In April, Prime Minister Denys Shmyhal said Ukraine will receive 560 million euros ($596 million) from the EIB for a number of projects this year.

The International Monetary Fund (IMF) said that Ukraine will need at least $42 billion in international aid to support its budget in 2024.

Foreign aid is crucial for Ukraine as the economic pressure caused by the full-scale Russian invasion mounts. The besieged country received $42.5 billion in external financing last year, allowing it to function amid the ongoing war.

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Ukrainians could face up to 20 hours of blackouts a day under a “worst-case” scenario if the country cannot repair and properly defend its energy infrastructure from Russian attacks, Executive Director of Ukraine’s largest privately-owned energy company DTEK Dmytro Sakharuk told the Kyiv Independent…
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Chris York

News Operations Editor

Chris York is news operations editor at the Kyiv Independent. Before joining the team, he was head of news at the Kyiv Post. Previously, back in Britain, he spent nearly a decade working for HuffPost UK. He holds an MA in Conflict, Development, and Security from the University of Leeds.

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