• The EIB welcomes the European Council’s decision to start accession negotiations with Ukraine and Moldova, and to grant candidate country status to Georgia.
  • The Bank has actively supported these countries with combined financing of over €10 billion to date, and looks forward to continuing to support them in accession and convergence with the EU.

The European Investment Bank (EIB) welcomes the decision taken today by the European Council to start EU accession negotiations with Ukraine and Moldova, and to grant candidate country status to Georgia.

“The enlargement process has accelerated economic growth and increased prosperity across the European Union. Enlargement will continue to strengthen the European project — and the EIB, as an instrument of European economic integration, is fully committed to working with Ukraine, Moldova and Georgia to accelerate meeting the conditions for their accession,” stated EIB President Werner Hoyer.

Read on for an overview of the Bank’s activity in these countries.

Ukraine
Present in Ukraine since 2007, the EIB has been unwavering in its support for the country’s EU integration, which has become even more vital since Russia’s full-scale invasion. The Bank has invested in municipal infrastructure, energy, transport and SMEs, all with the goal of improving daily life, boosting economic growth and aiding in Ukraine’s resilience and reconstruction. It has committed a total of €7.3 billion of financing so far.

With Russia’s full-scale invasion of Ukraine in 2022, the EIB offered immediate relief, disbursing €1.7 billion of financing in 2022 for emergency repairs to the country’s ravaged infrastructure. Through the EU for Ukraine initiative and fund, the Bank remains committed to stepping up its activities in line with the mandate given by EU leaders and in close cooperation with the European Commission, the European Parliament, EU Member States and international partners. Find out more at www.eib.org/ukraine.

Moldova
Since beginning operations in Moldova in 2007, the EIB has channelled over €1.19 billion into 33 projects to back EU policy objectives across multiple sectors, including transport, energy, SMEs, agriculture and municipal infrastructure. 2022 was a record year for the EIB in Moldova, with €250 million of new loans signed with the public sector. 2023 saw the Bank extend its first corporate loan in the country — a $30 million project with Premier Energy Distribution, Moldova’s private electricity distribution system operator, designed to enhance the quality and reliability of the electrical power network. Today, the Bank signed a €42 million loan agreement to upgrade Moldova’s railway infrastructure, improving the railway connection between Moldova and Ukraine and boosting trade. This investment benefits both Ukrainian exports and the Moldovan economy, aligning with the EU-Ukraine Solidarity Lanes. Find out more at /moldova.

Georgia
The EIB has worked with Georgia since 2007 (signing the first loan in 2010) to support economic and social development in the country. This cooperation has been aligned with the European Neighbourhood Policy, the Eastern Partnership and other EU bilateral agreements. The EIB’s commitment in Georgia now exceeds €2 billion, covering essential sectors like green energy and energy transmission, connectivity, water and wastewater, digital inclusion, sustainable agriculture, SMEs and microbusinesses, and access to finance. Find out more at www.eib.org/georgia.