A German bank has transferred €1.4B to Ukraine for humanitarian aid and infrastructure support.
The German State Development Bank KfW, on behalf of the German and EU governments, will support Ukraine by implementing more than 40 projects totaling more than €1.4B. In particular, the funds will be transferred to support the energy industry, displaced persons, and other needs.
“The main focus is on the energy sector with €520M, as power lines, substations, and power plants have repeatedly become objects of Russian attacks. Therefore, constant repair work is necessary,” the message says.
Also, more than €530M will go toward housing programs and social services for internally displaced persons and communities that host displaced persons.
At the same time, the bank’s assistance will strengthen the basic municipal infrastructure. The bank will direct €135M to repair and modernize medical centers, schools, and water pipes.
Since the beginning of the full-scale invasion, the bank has provided more than €1.2B to support state functions.