EU Eastern neighbours
The Bank’s activities in the region aim at supporting the goals set up by the EU’s European Neighbourhood Policy. This is done by financing projects that promote prosperity and increased regional integration, which contributes to the stability of these regions and helps forging stronger intraregional partnerships.
The Bank's activities in the region promote growth and employment, intraregional trade, and help to protect our common environment and to mitigate climate change by supporting low carbon and climate resilient growth. The current EUR 4.8bn mandate runs from 2014 to 2020 and covers Armenia, Azerbaijan, Belarus, Georgia, Moldova, Russia and Ukraine.
How do we help?
- local private sector development, in particular support to SMEs,
- development of social and economic infrastructure, and
- climate change mitigation and adaptation.
In 2014 the EIB also set up a Neighbourhood Finance Facility (NFF), a EUR 3bn facility under which financing will be extended at the EIB's own risk (i.e. without EU guarantee) in the Eastern Neighbourhood region, including Russia, and the Southern Neighbourhood (FEMIP) region.
The facility enables the Bank to support EU Foreign Direct Investments (FDI) as well as infrastructure projects such as transport, telecommunications and energy in the region.
ProjectsSince the first EIB loan signed in 2003 and until the end-December 2014, the EIB has signed 77 operations totalling EUR 6,039 million in the region for major investment projects (including 18 operations for EUR 1,175 m in 2014).
A new tunnel is under way beside the decrepit old one in Beskyd, a beautiful, remote area 100 km from Lviv. The 1.8 km tunnel’s two ends connected earlier this year. By early 2018, with its lining and tracks complete, the new tunnel is expected to handle 60% of transit freight from Ukraine to Central Europe. The EIB signed a EUR 55 million loan for the project in May 2014.
Late on the night of June 13, 2015, one million cubic metres of mud had slid into the Vere, damming it in two places.There were 19 dead and 22,000 of Tbilisi’s 1.1 million people were without electricity. Hippos and jaguars escaped from the zoo to roam the streets. One man was mauled to death by a tiger. Among the quickest to react was the European Investment Bank, which has been ramping up investment in Georgia over the last couple of years.