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Thursday, April 25, 2024

Spain provides guarantees to EBRD worth $110mln to help Ukraine – Madrid

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Madrid: Spain will provide guarantees to the European Bank for Reconstruction and Development (EBRD) worth 100 million euros ($110 million) to help Ukrainian communities and strengthen food security in the country, the Spanish government said on Thursday.

“First Deputy Prime Minister Nadia Calvino signed an agreement with the European Bank for Reconstruction and Development (EBRD), under which Spain will provide guarantees worth 100 million euros to help communities and strengthen food security in Ukraine,” the government said in a statement.

According to the statement, the agreement was formalized at the meetings of the International Monetary Fund, the World Bank, and the Group of Twenty (G20) this week in Washington. The agreement will help accelerate the development and recovery of agricultural production in Ukraine and ensure the restoration of necessities such as heating, water supply, sanitation, and public transport.

Madrid added that, since the beginning of the Ukraine conflict in February 2022, Spain has been providing financial aid to Ukraine in various ways, including the World Bank, the European Union, and, following this agreement, the EBRD. Spain’s contribution to the European Peace Facility — the EU’s off-budget instrument to enhance Brussels’ ability to act as a global security provider — has amounted to 320 million euros, the statement said, adding that this financial aid comes along with Spain’s humanitarian assistance to Ukraine.

Spain has received over 170,000 refugees from Ukraine and provided medical and educational services to them, Madrid said in the statement.

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