EU unveils €600m Ukraine package

The European Commission and the European Investment Bank have unveiled more than €600 million for urgent reconstruction projects in Ukraine. (eib.org) The package, announced on April 22 in Brussels, includes more than €450 million in European Investment Bank financing and about €150 million in European Union grants and technical assistance. (eib.org) The money is aimed at roads, railways, power grids, home energy efficiency, urban mobility and education facilities, with the financing backed by an extended EU guarantee. (eib.org) One project tied to that effort reopened on April 27 in Hostomel, near Kyiv, where Primary School No. 1 resumed classes after a €613,000 renovation financed mainly through the European Investment Bank. (eib.org) The rebuilt school, damaged during Russia’s full-scale invasion, now serves 120 pupils, up from 67 before the renovation, and includes insulation upgrades, backup power and new digital learning space. (eib.org) The Hostomel work was funded through the European Investment Bank’s €340 million Ukraine Recovery Programme, one of three joint EU-bank recovery initiatives run with Ukrainian ministries and local authorities. (eib.org) The new package also fits into a broader European Union financing push for 2026 and 2027. On January 14, the Commission proposed a €90 billion support loan for Ukraine over those two years. (ec.europa.eu) About two thirds of that proposed €90 billion, or €60 billion, would go to military assistance, with the remaining €30 billion for general budget support, according to the Commission. (ec.europa.eu) That political backdrop sharpened again on April 28, when the European Parliament backed 2027 budget priorities that called for stronger common investment in defence research, dual-use technologies and military mobility. (europarl.europa.eu) The same Parliament text singled out support for member states bordering Ukraine, Russia or Belarus, linking the bloc’s budget debate more directly to the war on its eastern edge. (europarl.europa.eu) For now, the €600 million package is less about a single flagship project than about keeping basic systems running: transport, energy, schools and the local services that let towns keep functioning. (eib.org)