European Investment Bank Opens Office in Ukraine

The European Investment Bank has opened its regional representation for Eastern European countries in the capital of Ukraine, Kyiv. It will be located in the office of the European Union Representation in Ukraine. The press release indicates that the regional representation will provide enhanced support to Ukraine and other Eastern European countries, collaborating and coordinating activities with representations in Moldova and the South Caucasus.

The opening ceremony in Kyiv was attended by the President of the EIB, Werner Hoyer, and Vice President Teresa Czerwinska. This move is described as a testament to unwavering support for Ukraine, especially in the face of continuous attacks and atrocities by Russia.

"From the onset of the Russian invasion, we have worked with the Ukrainian government to support reconstruction projects, sustaining the country's remarkable resilience. With the opening of our EIB Regional Representation in Eastern European countries in Kyiv, we aim to underscore our heightened commitment: accompanying Ukraine on its European path. Ukraine is an integral part of the European family, and the EIB is a key component of the EU's long-term support," noted Werner Hoyer.

Among the proposed EIB initiatives are two credit agreements totaling €450 million, aimed at Ukraine's recovery and reconstruction programs, recently approved by the EIB Board of Directors. Currently, these agreements are being discussed with the Ministry of Finance of Ukraine and the Ministry for Communities, Territories and Infrastructure Development of Ukraine. The "EU for Ukraine" fund, part of the EIB's "EU for Ukraine (EU4U)" initiative, supports these initiatives with contributions from member states and guarantees from the European Commission, amounting to a total of €500 million to date.

The European Investment Bank was founded in 1957, and currently, it has 27 member countries of the European Union. The bank actively engages in credit activities and is one of the largest lenders of financial resources on international capital markets.

The EIB began cooperation with Ukraine in 2004, and since then, the country has actively worked on establishing a regulatory framework to attract the bank's resources. As of November 2023, the total amount of EIB financial resources provided to Ukraine, in both the public and private sectors, exceeds €7.5 billion.