The European Investment Bank will allocate EUR 2 billion to Ukraine for recovery projects under the Ukraine Facility.
This is indicated in a statement by the Ministry of Finance, the Ukrainian News agency reports.
Representatives of the Ministry of Finance of Ukraine, the European Investment Bank and the European Commission discussed the implementation of recovery investment projects in Ukraine.
The key issue for discussion was the implementation of the investment component (Pillar 2) of the Ukraine Facility EU financial instrument.
For 2024-2027, the Ukraine Facility provides for EUR 9.3 billion for the implementation of investment projects (EUR 7.8 billion in the form of guarantees and EUR 1.5 billion in the form of grants).
Olha Zykova noted the important role of the EIB in the implementation of projects under the Pillar 2 Ukraine Facility.
The Bank plans to allocate EUR 2 billion for:
- modernization of key export routes and railway lines;
- increasing hydropower and renewable energy production;
- strengthening the national electricity grid;
- rehabilitating Ukraine's healthcare facilities.
In addition to direct investments, the EIB stands ready to provide significant advisory support to Ukraine through JASPERS (Joint Assistance to Support Projects in European Regions) in Ukraine.
The EU JASPERS programme supports the Government of Ukraine in preparing critical investments and strategies, as well as capacity building in priority areas of the economy.
The EIB is also advising on the implementation of the Roadmap for Reforming Public Investment Management System and the project selection methodology.
The parties agreed to continue cooperation on the implementation of investment projects and to hold a further meeting in the near future to agree on further steps.
As the Ukrainian News agency earlier reported, Finance Minister Serhii Marchenko and World Bank Regional Director for Eastern Europe Bob Saum signed a Grant Agreement under the bank's project "Public Expenditures for Administrative Capacity Endurance Project” (PEACE in Ukraine), the amount of funds provided is USD 15 billion.
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