Today, on 6 March, during a forum in Luxembourg, the European Commission and the European Investment Bank (EIB) signed a guarantee agreement that will allow the EIB to invest at least €2 billion in urgent recovery and reconstruction projects in Ukraine.
This was reported by the Ministry of Economy of Ukraine.
The agreement will ensure the further implementation of urgent recovery and reconstruction projects in Ukraine. The funding, which is aligned with the priorities of the Ukrainian government, is part of the EU's Ukraine Facility financial support mechanism for Ukraine.
According to Yuliya Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine, the European Union and its institutions, including the EIB, remain reliable partners in Ukraine's recovery.
"We are accelerating investment projects that meet our most urgent strategic needs, ensuring rapid reconstruction and modernisation. Every project we implement brings Ukraine closer to the EU, strengthening our resilience and integration into the European family," she said.
Nadia Calviño, President of the EIB, stressed that Ukraine's security is the security of the European Union.
"We support Ukraine. Today, we are reaffirming this commitment by signing agreements with the European Commission and the Government of Ukraine to strengthen our support. This will allow us to make critical investments to rebuild Ukraine's key infrastructure and public services, strengthening the country's resilience and its path to EU integration," the official said.
The funds will be used to finance public projects in key sectors, namely to strengthen Ukraine's energy networks, including the expansion of hydropower and renewable energy production, as well as energy efficiency.
In addition, the funding will support the modernisation of railways, the development of urban public transport, and the improvement of transport infrastructure, including the Solidarity Roads initiative, which provides for the implementation of projects aimed at improving transport links between Ukraine and the EU.
The funds will also help to restore municipal infrastructure such as water supply, heating systems, street lighting, schools, hospitals and higher education institutions. The first projects under this guarantee were already announced during the recent visit of EIB President Nadia Calviño to Kyiv.
- Ukraine Facility is the EU's financial assistance programme for Ukraine. In 2024-2027, the EU will allocate EUR 50 billion to finance the state budget, stimulate investment and provide technical support for the implementation of the programme.
- Last year, the EIB supported projects aimed at securing Ukraine's energy supply, restoring critical infrastructure and ensuring the continuity of essential services across the country.
- On 24 February in Kyiv, the European Commission offered Ukraine a new support package to ensure the security of the energy system and full integration into the European energy market.
- In February, Ukraine and the European Investment Bank signed an agreement to provide €16.5 million for the restoration of the energy sector and critical infrastructure.