Ministry of Economy and Environment, EIB outline cooperation priorities

Attracting investment in the private sector, preparing recovery projects and expanding opportunities for investors are the key areas of cooperation between Ukraine and the European Investment Bank (EIB). This was discussed during a meeting between Minister of Economy and Environment of Ukraine Oleksandr Kravchenko and EIB Vice-President Karl Nehammer and the bank's team.

"The EIB is the largest implementing partner of the Ukraine Investment Framework (UIF), with funding of EUR 3.32 billion, of which EUR 530 million is earmarked for the private sector. Our task is to turn these resources into specific projects and investments. To do this, we are focusing on attracting foreign direct investment from the EU, preparing projects under Ukraine FIRST and strengthening the state's capacity to implement recovery projects through the GROUND initiative," Oleksandr Kravchenko said.

One of the key areas of cooperation is the launch of risk-sharing instruments for small and medium-sized businesses through Ukrainian banks, as well as the EU Foreign Direct Investment (EU FDI) program worth EUR 250 million under the UIF. The program is expected to help attract an additional EUR 750 million of investment in large projects of European companies in Ukraine. Its implementation will be one of the priorities of cooperation with the EIB in 2027.

Preparing investment projects is another important area. Under the Ukraine FIRST initiative, with EUR 41 million of available funding, 8 projects have already been selected, and another 15 have been submitted for consideration under the Project Preparation Facility (PPF). The results of the assessment are expected within two weeks.

The parties also discussed the GROUND initiative, which provides technical assistance to key ministries to strengthen their capacity to prepare and implement projects, including in the context of Ukraine's preparation for EU accession.

Privatization and attracting investors were also in focus. To bring additional revenue to the budget amid its deficit, Ukraine continues the privatization of large assets worth more than EUR 6 million, small-scale privatization, and the sale of sanctioned assets and stakes in state-owned enterprises. Oleksandr Kravchenko proposed that the EIB join in preparing deals and attracting potential investors.

Separately, the parties considered investment in waste management and affordable housing. Waste management has been identified as one of the priorities of cooperation with the EIB. The next step is to move from project preparation to attracting investment in the sector. They also discussed regional pilot projects for affordable housing for vulnerable groups, including internally displaced persons.