Ukraine to get EIB guidance on advancing priority infrastructure projects in areas such as roads, railways and energy

• EIB to advise Ukraine on developing key infrastructure under the Ukraine FIRST project preparation initiative, jointly developed with the European Commission and the EBRD.
• New advisory accord aims to turn large-scale infrastructure plans into projects ready for financing and implementation.
• Initial work to focus on road connections in southern Ukraine.

Ukraine will receive guidance from the European Investment Bank (EIB) on accelerating the preparation of large-scale development projects and supporting the reconstruction of critical infrastructure such as road, energy and railway networks.

The EIB and the Government of Ukraine, acting through its Ministry of Economy, Environment and Agriculture, signed a cooperation agreement on the matter in Kyiv. The accord establishes a framework for the EIB to work with Ukrainian authorities to carry out investment projects as Ukraine pursues European Union membership.

“This agreement is an important step in supporting Ukraine’s recovery and EU accession plans through well-prepared investments,” said EIB Vice-President Karl Nehammer. “Strong project preparation is essential to ensure that infrastructure investments are delivered efficiently, attract financing and meet European standards.”

The accord is part of the programme called Ukraine FIRST – short for Ukraine Facility for Infrastructure Reconstruction. The programme is a project-preparation initiative developed jointly by the EIB, the European Commission and the European Bank for Reconstruction and Development (EBRD), with over €40 million in funding to date.

Ukraine FIRST is implemented through separate components led by the EIB and the EBRD, working with other financiers and donors. The goal is to help Ukraine turn priority infrastructure needs into ready-to-finance projects through essential preparation work such as feasibility studies, technical design and environmental assessments.

The Ukrainian Ministry of Economy, Ministry of Finance and Ministry for Development of Communities and Territories are all closely involved.

“We consider Public Investment Management reform to be a key instrument that ensures the strategic use of public resources and international assistance. Today, the main challenge is not only the availability of funding, but also the quality of projects and their readiness for investment and implementation,” said Minister of Economy, Environment and Agriculture of Ukraine Oleksii Sobolev. “The agreement we have signed strengthens our partnership with the EIB: Ukraine FIRST will help prepare priority projects in line with international standards at all levels – national, regional, and local – and this will accelerate Ukraine’s recovery and long-term development.”

Under the agreement, EIB Advisory will begin work on an initial project focused on the “M15” highway that connects Odesa in southern Ukraine with the Romanian border, providing a transport plan for the Odesa region and contributing to the modernisation of a key road route. Strengthening the M15 corridor will improve access to ports on the Danube River, support Ukraine’s trade and enhance the country’s connectivity with the EU.

The agreement also paves the way for the EIB to support other projects selected by the Ukrainian government through its “Single Project Pipeline” over the coming years. Subsequent projects are expected to be for potential investments in energy and railway infrastructure.

Background information

The EIB in Ukraine

Present in Ukraine since 2007, the EIB has stepped up its financial support for the country’s resilience and modernisation since Russia’s full-scale invasion of Ukraine in 2022. Since then, the EIB has provided over €4 billion in financing. Through its EU for Ukraine (EU4U) Initiative, coupled with its key role in implementing a dedicated window under the Ukraine Facility, the EIB is strongly committed to stepping up and accelerating its activities in line with the mandate given by EU leaders and in close cooperation with the European Commission, the European Parliament, Member States and international partners.