"The Polish government has contributed EUR 25 million to a European Investment Bank fund dedicated to the reconstruction of Ukraine following Russia’s full-scale military invasion in 2022," the bank said in a statement on Thursday.
"The agreement between the EIB and Poland increases the size of the EU for Ukraine Fund to EUR 398.35 million," it added.
Created by the EIB last year, the fund aims to help rebuild infrastructure, restore essential services and stimulate economic growth in Ukraine.
"Poland joining the EIB-led EU for Ukraine Fund marks an important step in supporting Ukraine’s economic resilience," said Teresa Czerwińska, EIB vice-president responsible for operations in Ukraine.
"Thanks to the Polish contribution, the fund is now worth nearly EUR 400 million," she added.
"This money will help drive public sector investment to rebuild critical infrastructure, as well as propping up Ukrainian entrepreneurs and businesses to keep the economy going," Czerwińska also said.
Polish Deputy Foreign Minister Jakub Wiśniewski said: "Supporting Ukraine has been a long-standing priority for Poland, including through development cooperation. Since the Russian aggression on Ukraine in 2022 our efforts have intensified to address humanitarian needs and help Ukraine in recovery and post-war reconstruction."
Wiśniewski added: "Poland is proud to be one of the initiators of the establishment of the EU for Ukraine Fund in 2023 and now to fulfil our political commitment with financial contribution of EUR 25 million. We hope that these funds will also help Ukraine to modernize on its EU accession path."
In addition to Poland, the EU for Ukraine Fund has received contributions from Belgium, Croatia, Cyprus, Denmark, Estonia, Finland, France, Italy, Latvia, Lithuania, Luxembourg, the Netherlands and Spain, the EIB said.
The European Investment Bank is a European Union financial institution that provides long-term loans to the bloc's member states.
Russia invaded Ukraine by land, air and sea on February 24, 2022, starting the largest military conflict in Europe since World War II.
Friday is day 975 of Russia’s war on Ukraine.
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Source: PAP, eib.org