The Ministry of Economy of Ukraine and the European Investment Bank (EIB) have reviewed the current state of implementation of the Bank’s recovery projects under the Ukraine Investment Framework (UIF), Pillar 2 of the Ukraine Plan.

On 5 November, during a meeting between Oleksii Sobolev, First Deputy Minister of Economy, and an EIB delegation led by Kristina Mikulova, Head of the EIB Regional Hub for Eastern Europe, the parties discussed public projects already being implemented by the Bank in Ukraine and considered additional funding opportunities under the UIF.

“In order to effectively use the available funding for recovery projects, it is important that we have a full understanding of the current and planned activities of IFIs and DFIs in Ukraine. Under Pillar 2, the EIB has about EUR 2 billion in guarantees for public projects. The Government is currently working with the European Commission to analyse the initiatives submitted by the EIB in order to formulate further recommendations for their implementation in accordance with the Single Project Pipeline,” said Oleksii Sobolev.

The parties also discussed the expansion of technical assistance in project preparation. Thus, the Government is already working on launching the Project Preparation Facility (PPF) programme to increase the number of projects ready to attract funding. Additionally, with the support of the European Commission and the EIB, the JASPERS programme operates in Ukraine, providing advisory services and technical support for the preparation and implementation of public and municipal projects.

Background

The European Investment Bank (EIB) was established in 1957. Today, 27 countries of the European Union are shareholders of the EIB. The European Investment Bank carries out not only lending activities, but also acts as the largest borrower of funds in the international financial capital markets.

Ukraine has been working with the European Investment Bank since 2004 to create a regulatory framework to attract its resources for the implementation of infrastructure, energy, environmental and other investment projects.

As of 1 October 2024, the total amount of financial resources provided by the EIB in Ukraine, both in the public and private sectors, is more than EUR 7.5 billion.