EU lending arm aims to raise 100 billion euros to help rebuild Ukraine

FILE PHOTO: Seeds are seen in a grain silo destroyed after it was shelled repeatedly, amid Russia's invasion of Ukraine, in Donetsk region, Ukraine May 31, 2022. REUTERS/Serhii Nuzhnenko/File Photo

BRUSSELS (Reuters) - The European Investment Bank, the lending arm of the European Union, is proposing a funding structure previously used during the COVID-19 pandemic to help rebuild Ukraine with up to 100 billion euros ($104.3 billion) of investment, according to a document seen by Reuters.

The EU-Ukraine Gateway Trust Fund (E-U GTF) would seek to have an initial 20 billion euros in contributions from EU countries and the EU budget in the form of grants, loans and guarantees.