Ukraine And The European Investment Bank (EIB) Discuss €2 Billion Recovery Projects
13.11.2024 | 13:52 | Section for Public and Mass Media Relations
The Ministry of Economy of Ukraine and the EIB reviewed the current progress of the Bank's recovery projects under the Ukraine Investment Framework (UIF), which forms the second investment component (Pillar 2) of the Ukraine Plan.
On 5 November, during a meeting between Ukraine's First Deputy Minister of Economy, Oleksii Sobolev, and an EIB delegation led by Kristina Mikulova, Head of the EIB Regional Hub for Eastern Europe, participants discussed the public projects currently being implemented by the Bank in Ukraine and explored further funding opportunities within the UIF.
"To effectively utilise the available funding for recovery projects, it is crucial that we have a complete understanding of the ongoing and planned activities of international and domestic financial institutions in Ukraine. Under Pillar 2, the EIB has approximately €2 billion in guarantees for the implementation of public projects. Currently, the Government, together with the European Commission, is analysing the initiatives proposed by the EIB to provide further recommendations for their implementation in line with the Unified Public Investment Portfolio," noted Oleksii Sobolev.
The parties also addressed the expansion of technical assistance for project preparation. The Government is already working on launching the Project Preparation Facility (PPF) to increase the number of projects ready to attract funding. Additionally, with support from the European Commission and the EIB, the JASPERS programme is active 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. Its shareholders are the 27 Member States of the European Union. The EIB not only engages in lending activities but also acts as the largest borrower of financial resources on international capital markets.
Since 2004, Ukraine has cooperated with the EIB to develop a regulatory framework to attract its resources for infrastructure, energy, environmental, and other investment projects.
As of 1 October 2024, the total financial resources provided by the EIB in Ukraine, across both the public and private sectors, exceed €7.5 billion.
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