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EIB Eastern Partnership Committee Launched ©Imagemaker/EIB

On Wednesday of this week, the European Investment Bank (EIB) hosted the inaugural session of its Eastern Partnership Committee comprising representatives of the Bank, the partner countries, the EU Member States, the European Commission and the European External Action Service. 

The Committee was launched in the wake of the 2013 Vilnius Eastern Partnership Summit, providing the EIB an opportunity to develop a stronger relationship with the countries where it operates.

“The Eastern Partnership is one of the most rapidly growing and dynamic regions in terms of EIB lending. We wish to keep up this momentum,” said EIB Vice-President Wilhelm Molterer, who chaired the meeting. Since extending its activity to the Eastern Partnership region in 2007, the EIB has provided a total of EUR 3.2 billion in long-term loans in Armenia, Georgia, Moldova and Ukraine.

The committee provided guidance on the EIB’s investment strategies in the partner countries and valuable input into the Bank’s indicative business plan for the coming years.

Participants were also informed about the EIB’s potential for contributing to an EU support package for Ukraine with long-term loans of up to EUR 3 billion by 2016.

EIB will also be extending its operation to Azerbaijan after the entry into force of the Framework agreement of early 2013.