Olga Zykova: The EIB's portfolio of projects in Ukraine reaches EUR 4.3 billion and is one of the largest among international financial institutions

The Ministry of Finance of Ukraine and the European Investment Bank (EIB) have held a regular review of the loan portfolio of joint projects. The event was chaired by Deputy Minister of Finance Olha Zykova and the EIB representatives - Head of the EIB Representative to Ukraine Kristina Mikulova and Director of the EIB's Public Sector Lending Department for the Eastern Partnership Matteo Rivellini, as well as with the participation of delegates from the European Commission and the EU Delegation to Ukraine. The review took place in Kyiv for two days - 25 and 26 March.

The event was also attended by representatives of Government agencies and project beneficiaries: The Ministry of Communities and Territorial Development of Ukraine, the Ministry of Energy of Ukraine, the Ministry of Economy of Ukraine, the Ministry of Education and Science of Ukraine, the Ministry of Internal Affairs of Ukraine, the State Agency for the Restoration and Development of Infrastructure of Ukraine, NPC Ukrenergo, Ukrhydroenergo, and others.

The parties identified the main results of project implementation in 2024, as well as further steps to ensure the effective use of EIB loan resources and guarantees provided by the European Commission under the Pillar II Ukraine Facility in 2025, in particular for priority areas of recovery.

The parties also discussed preparations for the signing in April 2025 of new projects aimed at restoring social infrastructure in communities with a significant number of internally displaced persons and ensuring the restoration of water supply and wastewater systems in cities across Ukraine.

Olga Zykova thanked the EIB representatives and noted that the EIB remains a key financial partner in the development and recovery of Ukraine, especially during the full-scale russian aggression.

“Ukraine's cooperation with the EIB covers a wide range of areas that really meet the key needs of the Government in the economic development of the country and improving the lives of its citizens. First of all, it is support for critical infrastructure, energy, transport, education, as well as the implementation of important social initiatives and digitalisation. Today, the EIB's loan portfolio in Ukraine is one of the largest among international financial institutions and consists of 24 active projects with a total value of EUR 4.3 billion. Strategic planning in the implementation of these programmes and the prompt use of credit funds from the existing portfolio are extremely important,” the Deputy Minister of Finance said.

In particular, the EIB is financing: 

• two investment projects worth EUR 178 million to ensure the energy efficiency of educational buildings and the development of vocational schools;

• two investment projects worth EUR 400 million to provide rolling stock for public transport in Ukrainian cities;

• and three projects worth EUR 640 million to restore social infrastructure in regions with a high number of internally displaced persons and in regions affected by the military aggression of the russian federation.

Over the past year, Ukraine, together with the EIB, has achieved significant results in implementing such initiatives as the Ukraine Recovery Program, Urban Public Transport of Ukraine and Higher Education in Ukraine. Today, the Ukrainian side seeks to accelerate the pace of disbursement, improve the efficiency of project implementation, and ensure their maximum impact on the economy and social sphere.

The participants of the review paid special attention to the implementation of initiatives envisaged in the EU's Ukraine Facility financial instrument. In particular, they discussed the prospects for attracting new resources.

At the same time, Deputy Minister of Finance Olga Zykova stressed that the review of the EIB loan portfolio in Ukraine is an extremely important tool for monitoring the implementation of the European Investment Bank's projects in Ukraine, especially under the guarantees provided by the European Commission as part of the implementation of Pillar II of the Ukraine Facility in 2025.