EIB and EBRD continue to support Ukraine’s energy sector: Minister of Finance met with heads of the banks in Washington

On the sidelines of the IMF-World Bank Annual Meetings in Washington, D.C., a delegation of the Ministry of Finance of Ukraine headed by Minister of Finance Sergii Marchenko met with the leadership of the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

EIB President Nadia Calviño and European Commissioner for Economy Paolo Gentiloni also signed a statement of intent to provide emergency assistance grants to Ukraine.

The key topic of the discussion was the implementation of joint projects in the highest priority areas for Ukraine, primarily support for the energy sector.

During a meeting with the President of the European Investment Bank (EIB), Nadia Calviño, Sergii Marchenko thanked the Bank for its active participation in creating a safe and energy-efficient environment in Ukraine.

“russia’s systematic attacks are creating enormous pressure on our country and its energy sector. I am grateful to the EIB for understanding Ukraine’s urgent energy needs and making timely decisions that contribute to the restoration and modernisation of the energy sector. The Bank’s financial support is aimed at meeting the country’s priority needs, including the restoration of critical infrastructure,” the Minister said.

In addition, during the meeting with the President of the Bank and European Commissioner for Economic Affairs Paolo Gentiloni, a statement of intent was announced and signed to provide grant funding in the amount of EUR 12 million as part of the financing of the project to establish the EU 112 emergency assistance system in Ukraine. The total assistance under the project will consist of a EUR 12 million grant and a EUR 40 million loan.

The project aims to unite the country’s ambulance service, police, fire brigade and emergency gas service into a single emergency response system designed to provide quick assistance to citizens. The initiative envisages the creation of modern call centres and IT infrastructure, which will bring Ukrainian emergency services in line with European standards.

The portfolio of joint projects in the public and private sectors is the largest in all the years of cooperation and reaches more than EUR 7 billion. Since the start of the full-scale war, the EIB has provided investments in all areas of the country amounting to around EUR 2 billion.

The EIB recently announced that it intends to invest up to EUR 600 million to finance emergency energy projects in the public and private sectors. These funds will help restore and modernise Ukraine’s energy infrastructure, bringing it in line with European standards and accelerating the country’s integration into the EU.

During the meeting with EBRD President Odile Renaud-Basso, the parties identified further priorities for cooperation between Ukraine and the Bank. For 2025, the top priority is to support the private and public sectors, in particular in the field of critical infrastructure, especially energy.

As of October 2024, the total amount of EBRD financing provided to Ukraine over the entire period of cooperation is more than EUR 20 billion. And since the beginning of the full-scale war, Ukraine has received about EUR 5 billion of the Bank’s investments. A significant amount of funds has been allocated to support the energy sector.

Sergii Marchenko thanked for the EBRD’s contribution to promoting Ukraine’s energy security and allocating significant amounts of funding to key critical infrastructure entities: NPC Ukrenergo, NJSC Naftogaz of Ukraine, PJSC Ukrhydroenergo, and JSC Ukrzaliznytsia.