The European Investment Bank (EIB) has invested 8 billion euros in Ukraine since 2007, EIB vice president Teresa Czerwinska said at the All-Ukrainian Forum “Ukraine 30. Infrastructure” on Feb. 24.
In 2020, the EIB supported Ukraine with 1 billion euros, the bank’s second largest investment in the country since 2015, when it invested close to 1.3 billion euros.
“Since 2007 Ukraine has attracted more than 60% of our total loans in the Eastern Partnership countries,” said Czerwinka.
The 2020 investments aimed to improve infrastructure in eastern Ukraine’s war-torn regions. This included a 100 million euro loan to modernize 183 kilometers of roads in Luhansk Oblast, according to the EIB.
The bank also supported businesses hurt by the COVID-19 pandemic and helped preserve approximately 18,500 jobs in Ukraine.
The EIB and Ukraine have partially agreed on upcoming 2021 investments, including a 50 million euro package for the purchase of vaccines and modern refrigeration equipment for vaccination centers.
The bank has also set aside 2 billion euros for further investments in Ukraine’s infrastructure, EIB Vice-President Kris Peeters said at the Forum.
These projects will include the expansion of Ukraine’s road network, procurement of environmentally friendly public transport and the development of digital technology.
On Feb. 12, Prime Minister of Ukraine Denys Shmyhal and EIB President Werner Hoyer signed an agreement for a 270 million euro loan to improve the Kyiv Boryspil International Airport.
The EIB, the lending arm of the European Union (EU), has worked with Ukraine since 2007 via programs like the Eastern Partnership (EaP), the EU’s joint initiative with Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.
The EIB plays a significant role in the development of transportation infrastructure in the EaP countries, improving roads, rails, ports, and airport facilities to improve connections between the EU and its partners.
