On 27 November, EIB President Werner Hoyer and Vice-President Teresa Czerwińska met Ukrainian President Volodymyr Zelenskyy, Prime Minister Denys Shmyhal, and other officials in Kyiv. They also inaugurated the EIB Regional Hub for Eastern Europe, set up in Kyiv – a key milestone in strengthening the EU bank’s support for Ukraine and the Eastern Europe region.
EIB leaders emphasised the EIB’s steadfast commitment to continuing to offer comprehensive, responsive and flexible support, encompassing loans, advisory services, and capacity building, working closely with Ukrainian partners.
EIB President Hoyer said: “Our visit to Ukraine is a demonstration of the EU bank’s support, amid Russia’s continued attacks and atrocities. Since the very beginning of Russia’s invasion, and in close coordination with our EU partners, we have worked with the Ukrainian authorities to support reconstruction projects, underpinning the country’s impressive resilience. With the establishment of our Regional Hub for Eastern Europe in Kyiv, we stress our support to accompany Ukraine on its European path. Ukraine is an integral part of the EU family, and the EIB is a key part of the European Union’s long-term support.”
In a meeting with the EIB delegation, President of Ukraine Volodymyr Zelenskyy expressed his gratitude for the visit and the establishment of the EIB Regional Hub. “This is an important signal to our people that you believe in Ukraine, in the development of our country. We would like to prioritise infrastructure projects for the restoration of our country. So that this work has a greater effect,” emphasised Volodymyr Zelenskyy.
Recovery of infrastructure and economy were among the main topics of discussion, particularly with the Ministry of Finance and the Ministry for Restoration. New recovery and resilience initiatives will be introduced, financed through the EIB’s EU for Ukraine Fund. These initiatives are designed to tackle Ukraine’s most urgent infrastructure needs and sustain the country’s economy.
Ukraine’s Prime Minister Denys Shmyhal highlighted the collaboration with the EIB in various areas, including infrastructure restoration, energy, and heating supply.
“We are grateful for the financial assistance, particularly for creating effective tools for post-war recovery. The EIB was one of the first international financial organisations to provide financial support to the state budget in March 2022. We highly value the EIB’s active role in supporting Ukraine,” stated the prime minster.
Inauguration of the Regional Hub for Eastern Europe
The visit marked the inauguration of the EIB Regional Hub for Eastern Europe, set up to provide reinforced support to Ukraine and its neighbourhood. With more resources and expertise on the ground, the hub will be instrumental in supporting recovery and reconstruction efforts.
“We are pleased to host the EIB Regional Hub for Eastern Europe at the premises of the EU Delegation to Ukraine. It is an important sign of our coordinated and firm support for Ukraine in view of Russia’s full-scale aggression and for the country’s rebuilding. The EIB is a key player in the European Union’s support to Ukraine. We will continue working hand-in-hand with the EU bank to promote projects in the region, fostering stronger economic and political ties within the Eastern Partnership and ensuring that our efforts are effective,” said EU Ambassador to Ukraine Katarína Mathernová, who attended the inauguration.
The opening was also attended by Deputy Minister for Communities, Territories, and Infrastructure Development of Ukraine for European Integration Anna Yurchenko and Deputy Minister of Finance of Ukraine Olga Zykova.
The Vice-Prime Minister for the Restoration of Ukraine and Minister for Communities and Territories Development and Infrastructure of Ukraine, Oleksandr Kubrakov, commented on the extension of the EIB presence in Ukraine, saying: “The EIB has been active in Ukraine for 16 years. The EIB’s project portfolio amounts to over €7.3 billion. Since the beginning of the full-scale invasion, the EIB has provided Ukraine with €1.7 billion, including for the emergency repair of destroyed infrastructure. Our cooperation is expanding. The regional hub will play an important role in supporting reconstruction. Thanks to this, we will be able to make our joint work more targeted.
New recovery and resilience initiatives ahead
The EIB Board of Directors recently approved two loans totalling €450 million. They will be financed through the EIB’s EU for Ukraine Fund, which is a part of the EIB's EU for Ukraine (EU4U) Initiative, backed by contributions from EU Member States and guarantees from the European Commission, totalling €500 million to date.
These two projects are currently in final negotiations with the Ukrainian Ministry of Finance and the Ministry for Communities, Territories and Infrastructure Development.
“Our EU for Ukraine Initiative finances emergency repairs and the reconstruction of vital infrastructure, alleviating citizens’ hardship. We are working with President Zelenskyy, Prime Minister Shmyhal and all our Ukrainian partners on ways to further enhance our efficiency in these critical areas,” said EIB Vice-President Teresa Czerwińska, responsible for overseeing the EU bank's operations in Ukraine.
“EIB support is one of the steps in deepening cooperation with the European Union. The implementation of future projects will assist in the process of restoring infrastructure destroyed by the armed Russia’s aggression, including schools, hospitals, bridges, and water supply systems. Strengthening cooperation in these areas is of great importance for Ukraine, our economic resilience, and creating proper living conditions for Ukrainians,” noted Ukraine's Minister of Finance Serhiy Marchenko.
Honouring the strength and resilience of the Ukrainian people
The EIB delegation visited Kyiv’s Independence Square, with its sea of flags, and paid tribute to the Ukrainian soldiers and civilians who have fallen since Russia’s invasion of Ukraine.
Despite nearly two years of relentless shelling and numerous challenges and suffering, Ukraine and its people have demonstrated extraordinary resilience. The EIB delegation commended this fortitude and reaffirmed the Bank’s commitment to Ukraine.