The European Investment Bank, the EU's bank, is providing €1.59 billion, backed by guarantees from the EU budget, as aid to Ukraine,  European Commission informed.

1.05 billion euros will be provided immediately.

This is the second package of aid to Ukraine within the framework of the EIB's "Ukraine Solidarity" emergency response program, developed in cooperation with the European Commission.

It follows an emergency support package of 668 million euros. Like the first package, the new financing is offered on favorable terms, including long terms.

 "The second relief package under the EIB Ukraine solidarity response will help essential services to resume and get the most critical infrastructure up and running again, strengthen the country's resilience and maintain economic stability," the European Commission said in a statement.