Representatives of the Ministry of Finance of Ukraine, the European Investment Bank and the European Commission discussed the implementation of investment projects for the recovery of Ukraine.

The meeting was attended by Deputy Minister of Finance of Ukraine Olga Zykova, Head of Unit, Directorate-General for Enlargement and Eastern Neighbourhood of the European Commission Elena Visnar Malinovska and Head of the EIB Regional Hub for Eastern Europe Kristina Mikulova.

The key issue for discussion was the implementation of the investment component (Pillar 2) of the EU’s Ukraine Facility.

For 2024-2027, the Ukraine Facility provides EUR 9.3 billion for the implementation of investment projects (EUR 7.8 billion in guarantees and EUR 1.5 billion in grants).

Olga Zykova emphasized the important role of the EIB in implementing projects under Pillar 2 of the Ukraine Facility. The Bank plans to allocate EUR 2 billion to:

• modernization of key export routes and railway lines;
• increasing the production of hydropower and energy from renewable sources;
• strengthening the national power grid;
• restoring Ukraine’s healthcare facilities.

“The European Union and its institutions, in particular the EIB, continue to provide steady and continuous support. We are intensifying our work on the implementation of investment projects that meet Ukraine’s strategic needs. All of these projects will contribute to the rapid recovery and modernization of Ukraine and bring the country closer to the EU,” the Deputy Minister of Finance said.

In addition to direct investment, the EIB is ready to provide significant advisory support to Ukraine through JASPERS (Joint Assistance to Support Projects in European Regions) in Ukraine.

The EU’s JASPERS program supports the Government of Ukraine in preparing critical investments and strategies, as well as building capacity in priority areas of the economy. The EIB also advises on the implementation of the Roadmap for Public Investment Management reform, as well as the project selection methodology.

Since 2024, the Government of Ukraine has been implementing the Public Investment Management (PIM) reform, which aims to increase the efficiency of public funds and attract the necessary investments for recovery.

“The great need for reconstruction and limited resources require a revised approach to public investment. Our goal is to create conditions under which every hryvnia, euro or dollar invested will bring maximum benefit to citizens and contribute to the development of the country,” Olga Zykova emphasized.

The parties agreed to continue cooperation on the implementation of investment projects and to hold another meeting in the near future to agree on further steps.