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.
To help prepare and implement bankable, sustainable and economically viable projects, the EIB has launched the Municipal Project Support Facility (MPSF). The initiative provides technical assistance to municipalities in Eastern Partner countries – Ukraine, Belarus, Georgia, Armenia, Azerbaijan and Moldova. Officially launched in 2014 with an EU contribution of EUR 12 million, the MPSF is managed by a steering committee consisting of the European Commission, the EIB, the EBRD and KfW. The MPSF aims to finance energy efficiency investment projects such as district heating, urban transport, street lighting and renewable energy as well as projects related to the water supply and sanitation and solid waste management.
In focus: 10 years of operations in Georgia
Since 2007, Georgia and the EIB have a long and fruitful cooperation, underlined by a clear vision of developing the country towards closer integration with the European Union.
After a catastrophic flood ravaged the country in 2015, the EIB quickly stepped in to help Georgia rebuild in the aftermath and set up infrastructure for improved trade.
On the occasion of a decade of operations in Georgia, the EIB reaffirms its support with a new loan aiming to upgrade the country’s priority road infrastructure.
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.