The European Union has announced the launch of four new investment programmes for Ukraine worth a total of €376 million under the Ukraine Investment Framework.
This was reported by EU Commissioner for Enlargement Marta Kos during an EU–Ukraine conference held as part of the ReBuild Ukraine exhibition in Warsaw, according to Ukrinform.
The new initiatives cover several areas. The Danish Strategic Investment Programme will support industrial partnerships, primarily investments in dual-use technologies and renewable energy. A programme run by Slovakia’s Eximbanka SR will help strengthen Ukraine’s dual-use industrial base through investments in cybersecurity and demining equipment. In addition, thanks to a contribution from Norway, extra funding will be provided to the European Bank for Reconstruction and Development’s 5R programme, making it possible to channel funds into energy storage systems and renewable energy. The fourth International Finance Corporation programme will have increased EU guarantee coverage and an additional contribution from the United Kingdom.
Kos noted that Norway’s and the UK’s participation is turning the Ukraine Investment Framework into a pan-European platform. She said the EU is taking on part of the risk so that banks and companies can finance projects that would otherwise seem too risky.
In addition to investment, in November Ukraine expects to receive almost €8 billion under the Ukraine Facility and a further €3.7 billion in macro-financial assistance through a support loan programme.
The Commissioner also recalled that, according to the European Commission’s assessment, Ukraine has shown tangible progress towards EU accession for the fourth year in a row. If the country continues reforms in the areas of the rule of law, democratic institutions, public administration and the protection of the rights of national minorities, it will be able to begin closing negotiating chapters as early as next year. To coordinate these steps, a meeting will be held in Brussels on Sunday with Prime Minister Serhii Koretskyi and Parliament Speaker Ruslan Stefanchuk.