EIB and Ukraine Government to accelerate deployment of financial support and project execution on the ground
The European Investment Bank (EIB) and the Ukrainian government today agreed on strategic co-operation in support of Ukraine’s reconstruction, recovery and EU integration efforts.
This enhanced partnership envisages future investments in critical public and private sector initiatives, which will be supported by funds from the EIB’s EU for Ukraine Facility and the €50 billion European Union Fund for Ukraine, in which the EIB plays a key role.
The memorandum signed today calls for the rapid implementation of ongoing EIB projects in Ukraine, which will give the country access to €500 million of EIB loan funds and €60 million of EU grant funds in 2024.
The document describes a Fund package for Ukraine of at least €2 billion, which the EIB is ready to invest in critical public sector projects such as housing and public building renovation, municipal infrastructure, energy, roads and railways, health, and civil protection. These include modernising key export routes and railway lines, increasing hydroelectric and renewable energy production, and strengthening Ukraine’s national electricity grid and healthcare facilities.
The memorandum was signed by EIB President Nadia Calviño and Ukrainian Prime Minister Denys Shmyhal at the Spring Meetings 2024 in Washington, with EU Commissioner Valdis Dombrovskis witnessing and endorsing the agreement during the signing ceremony.
“All these projects and this memorandum will significantly facilitate Ukraine’s rapid recovery and bring us closer to the European Union,” Denys Shmyhal said.
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