On February 11, representatives from the Ministry of Economy, the Ministry for Communities and Territories Development, and the Ministry of Finance met with a delegation from the European Commission. The discussion focused on progress in public investment management (PIM) reform, the implementation status of the Ukraine Investment Framework (UIF), and the next steps for 2025.
"Last year, we signed 12 agreements worth €1.4 billion, launching the Ukraine Investment Framework. Now, together with the European Commission, we are assessing the results of these projects and coordinating the next recovery programs from international financial organizations (IFIs) under the UIF for this year. Effective cooperation and clear coordination are essential for the swift implementation of critical initiatives. That’s why we are focusing on improving UIF financing procedures, attracting new IFIs, and accelerating decision-making processes," said First Deputy Minister of Economy Oleksii Sobolev.
A key topic was the upcoming banking sector competition within the UIF, scheduled for announcement by the European Commission in March. It will focus on support programs for SMEs, veterans, internally displaced persons (IDPs), and businesses in frontline areas.
The meeting also covered:
- Strategic Investment Council operations and progress in Ukraine’s Unified Public Investment Portfolio.
- IFI engagement in the interagency working group on project preparation (PPU).
- European Commission’s support for implementing project preparation mechanisms, Ukraine FIRST and Ukraine PPF, aimed at enhancing project financial sustainability.
Additionally, the parties discussed preparations for URC2025 and the EU-Ukraine Business Summit, set to take place in April in Brussels, aiming to attract European investments in Ukraine’s reconstruction projects.
The European Commission representatives noted the growing interest of the EU’s private sector in financing and implementing projects in Ukraine and commended the Ukrainian government’s progress in key reforms.
Background on Ukraine Investment Framework
The Ukraine Investment Framework (UIF) is the second component of Ukraine Facility (Pillar 2), with a total of €9.3 billion—including €7.8 billion in guarantees and €1.5 billion in grants.
As part of URC2024, the first phase saw the signing of 12 grant and guarantee agreements totaling €1.4 billion:
- €1.05 billion in guarantees to expand existing IFI programs.
- €289 million for blended finance and grants.
- €55.5 million for technical assistance in investment project development and funding applications.
