The EIB and the Government of Ukraine will accelerate the deployment of financial support and the implementation of projects on the ground

The European Investment Bank (EIB) and the Ukrainian government today agreed on strategic cooperation to support Ukraine’s efforts in reconstruction, recovery and EU integration.

This enhanced partnership will target future investments in key public and private sector initiatives, which will be supported by funds from the EIB’s EU for Ukraine Facility and the European Union Fund for Ukraine, in which the EIB plays a key role.

The memorandum signed today calls for the rapid implementation of the ongoing EIB projects in Ukraine, which will give the country access to EUR 500 million in EIB loans and EUR 60 million in EU grants by 2024.

The document describes a fund package for Ukraine of at least €2 billion, which the EIB is prepared to invest in crucial public sector projects such as the renovation of housing and public buildings, municipal infrastructure, energy, roads and railways, healthcare and civil protection . These include modernizing key export routes and railway lines, increasing hydroelectric and renewable energy production, and strengthening Ukraine’s national electricity grid and healthcare facilities.

The memorandum was signed by EIB President Nadia Calviño and Ukrainian Prime Minister Denys Shmyhal during the Spring Meetings 2024 in Washington, with EU Commissioner Valdis Dombrovskis witnessing and endorsing the agreement during the signing ceremony.

“All these projects and this memorandum will significantly facilitate Ukraine’s rapid recovery and bring us closer to the European Union.” said Denys Shmyhal.

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