>@Photographer in Kiev/EIB

Today, the EIB opened its Resident Representation in Ukraine. This is the first EIB representation in the region of the Eastern Partner Countries.

EIB Vice-President Eva Srejber commented: “The main task of the EIB Resident Representation in Kyiv is to strengthen relations with the Republic of Ukraine by supporting EU policy and to extend loans to projects of common interest. It will work towards further developing contacts with Ukraine’s government, regions and municipalities and strengthen relations with public promoters, partner banks and other IFIs as well as representatives of the private sector”.

Today’s opening follows the 15 June 2010 signing of the Host Country Agreement for the EIB Resident Representation in Ukraine, which regulates the issues of the establishment and running of the EIB representation and EIB activities in the Ukraine.

The address of the EIB Resident Representation is: 16 Nemyrovycha-Danchenka street, UA-01133 Kyiv, Ukraine

Background information:

The EIB – the European Union’s Bank – finances projects in Ukraine on the basis of an EU Council and European Parliament mandate for the Eastern Partner Countries of EUR 3.7 billion for the period 2007-2013. This provides for the financing of projects that are of significant interest to both the EU and Ukraine in the transport, energy, telecommunications and environmental infrastructure sectors, as well as SMEs.

The EIB also has a facility for the Eastern Partners (Ukraine, Moldova, Georgia, Armenia, Azerbaijan and Russia), the Eastern Partners Facility, of an amount up to EUR 1.5 billion, with a ceiling of EUR 500 million for such loans in Russia. This facility enables the EIB to provide loans that sectorwise go beyond the scope of the mandate and helps support EU investment in the region, notably by European corporates.

The EIB has so far provided loans in Ukraine totalling EUR 465.5 million. It has financed projects in the roads and energy sectors, the upgrading of water infrastructure and – indirectly through commercial banks – the projects of SMEs. Loans for projects under appraisal or pending contract negotiations are worth over EUR 1 bn.