The Ministry of Finance of Ukraine and the European Investment Bank (EIB) conducted a review of their joint project portfolio. The event was chaired by Deputy Minister of Finance Olga Zykova, with EIB representatives, including the head of the EIB Representation in Ukraine, Kristina Mikulova, and the director of the EIB’s credit division for Eastern Partnership countries, Matteo Rivellini, as well as delegates from the European Commission and the EU Delegation in Ukraine.
The review, held over two days in Kyiv, involved officials from various Ukrainian ministries and project beneficiaries, including the Ministry of Regional Development, the Ministry of Energy, the Ministry of Economy, the Ministry of Education and Science, the Ministry of Internal Affairs, the State Agency for Infrastructure Restoration, NEC Ukrenergo, and PJSC Ukrhydroenergo.
The parties assessed the main results of the projects implemented in 2024 and outlined next steps for ensuring effective use of EIB loan resources and European Commission guarantees under the Pillar II Ukraine Facility in 2025, focusing on priority areas for recovery.
They also discussed preparations for signing new projects in April 2025 to restore social infrastructure in communities with a high number of internally displaced persons (IDPs) and to rebuild water supply and sewage systems in Ukrainian cities.
Olga Zykova expressed gratitude to EIB representatives, noting that the EIB remains a key financial partner in Ukraine’s development and recovery, especially amid the full-scale Russian aggression.
"Ukraine’s cooperation with the EIB covers a wide range of areas that align with the government's key needs in economic development and improving the lives of citizens. Primarily, this includes supporting critical infrastructure, the housing sector, energy, transport, education, as well as implementing important social initiatives and digitalization. Currently, the EIB’s loan portfolio in Ukraine is one of the largest among international financial institutions, consisting of 24 active projects worth €4.3 billion. Strategic planning and efficient use of credit funds from this portfolio are essential," emphasized the Deputy Minister of Finance.
Specifically, the EIB is financing:
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Two investment projects worth €178 million for energy efficiency in educational institutions and the development of vocational education facilities.
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Two investment projects worth €400 million for the acquisition of rolling stock for urban public transport in Ukrainian cities.
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Three projects worth €640 million for restoring social infrastructure in regions with large numbers of IDPs and areas affected by Russia’s armed aggression.
Over the past year, Ukraine and the EIB have achieved significant results in implementing initiatives such as the Ukraine Recovery Programme, Urban Public Transport in Ukraine, and Higher Education in Ukraine. The Ukrainian side aims to accelerate the pace of fund allocation, improve project implementation efficiency, and maximize the impact on the economy and social sector.
Particular attention was paid to the implementation of initiatives under the EU’s financial instrument, the Ukraine Facility, and the prospects for attracting new resources.
Deputy Minister Olga Zykova stressed that reviewing the EIB credit portfolio in Ukraine is a critical tool for monitoring the implementation of EIB projects, especially in the context of the guarantees provided by the European Commission under the Pillar II Ukraine Facility for 2025.
