Investment will help the reconstruction of Ukraine (Photo: AdobeStock)

Investments will focus on strengthening Ukraine’s energy networks, including energy grids, expanding hydropower and renewable energy production, and improving energy efficiency. Additionally, the funding will be used to modernise railways, enhance urban public transport, and upgrade transport connectivity, particularly in the EU-Ukraine Solidarity Lanes and border crossing points along key export routes.

To further support the implementation of EIB investments under the Ukraine Facility, the EIB and the government of Ukraine have signed an agreement to deploy a team of advisory experts in Kyiv.

The Ukraine Facility is the European Union’s financial assistance program for Ukraine.

President of the EIB, Nadia Calviño, said, “Ukraine’s security is the European Union’s security. We stand by the country. Today, we express that commitment once again with the signature of agreements with the European Commission and the Ukrainian government to step up our support. This will allow us to make crucial investments in the recovery of Ukraine’s critical infrastructure and key public services, reinforcing the country’s resilience and its path towards integration into the European Union.�

“Ukraine’s recovery and reconstruction are at the heart of the Team Europe approach, and we are working together to ensure that vital investments reach the areas where they are needed most in Ukraine. This is not just about today. We are helping Ukraine build back better and lay the foundations for a stronger, more sustainable future within the EU,� added EIB Vice-President Teresa Czerwińska, who oversees the Bank’s operations in Ukraine.