EIB, Ukraine Government Sign MoU To Accelerate Deployment Of Financial Support And Project Execution On The Ground
Government
This reinforced partnership places future investments within critical public and private sector initiatives that will be supported by funds from the EIB’s EU for Ukraine Fund and the European Union’s €50 billion Ukraine Facility, in which the EIB plays a key implementing role.
The memorandum signed recently calls for the rapid implementation of ongoing EIB projects in Ukraine, with the country having access to €500 million in EIB loan funds and €60 million in EU grant funds in 2024. It outlines an envelope of at least €2 billion from the Ukraine Facility, which the EIB is prepared to invest in critical public sector projects such as housing and public building renovation, municipal infrastructure, energy, roads, railways, healthcare and civil protection. These include the modernisation of key export routes and railway lines, enhancements in hydroelectric and renewable energy production, and the strengthening of Ukraine's national electricity grid and healthcare facilities.
The memorandum also highlights the EIB’s enhanced support for private sector growth, including for funding and risk-sharing instruments such as partial portfolio guarantees. This will enable local financial intermediaries to provide vital access to finance for local small and medium businesses (SMEs) on favourable terms.
Additionally, the agreement outlines stronger advisory support for Ukraine by opening up the highly-rated advisory services programme JASPERS (Joint Assistance to Support Projects in European Regions) to help prepare significant investments and improve capabilities to meet EU standards.
The memorandum was signed by EIB President Nadia Calviño and Ukrainian Prime Minister Denys Shmyhal at the Spring Meetings 2024 in Washington, with EU Commissioner Valdis Dombrovskis witnessing and endorsing the agreement during the signing ceremony.