European Investment Bank: over €1 billion for infrastructure, environment, innovation and post-COVID-19 recovery in Ukraine

European Investment Bank: over €1 billion for infrastructure, environment, innovation and post-COVID-19 recovery in Ukraine

February 3, 2021

The European Investment Bank (EIB) has invested over €1 billion in Ukraine in 2020 alone, marking the second-highest investment volume in the history of the Bank’s activities in the country, up 50% on 2019. Total EIB investment in Ukraine has now reached €7.5 billion.

Under a €340 million loan, approved by EIB in December 2020, the conflict-affected regions of eastern Ukraine will receive hands-on support to restore social infrastructure, improve public utility services and repair damaged administrative buildings and other key elements, including hospitals, schools, kindergartens, post offices, street lighting, sewerage systems, municipal transport and relevant transport infrastructure. To improve living and business conditions in eastern Ukraine, the EIB has also invested €100 million to modernise 183 km of roads in the Luhansk region. 

€300 million loan will allow Ukraine to improve the energy efficiency of some 1,000 public-owned buildings, including schools, cultural centres, kindergartens and hospitals. A further €200 million were channeled into improving public transport in Ukraine.

The EU bank also provided a €30 million loan to support the modernisation and digitalisation of the Ukrainian postal service.

In 2020, the EIB supported 75 SMEs and mid-caps to ensure they can survive the COVID-19 crisis and helped sustain close to 18,500 jobs in Ukraine.

As of the end of 2020, the EIB agreed to repurpose €50 million from an existing facility (the Ukraine Municipal Infrastructure Programme (UMIP), with a total of €400 million) to finance Ukrainian efforts aimed at combating COVID-19, with plans to use this tranche for purchasing the COVID-19 vaccine.

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