In 2025, Ukraine signed five financial agreements with the European Investment Bank worth over EUR 390 million

In 2025, Ukraine signed five new financial agreements with the European Investment Bank (EIB) totaling EUR 390.5 million. This was announced by Deputy Minister of Finance of Ukraine Olga Zykova during the EIB’s annual press conference presenting the Bank’s 2025 results in Ukraine.

The event was also attended by senior officials of the Ministry for Development of Communities and Territories of Ukraine, the Ministry of Economy, Environment and Agriculture of Ukraine, the EIB, and the Delegation of the European Union to Ukraine.

In particular, Ukraine signed a EUR 16.5 million grant agreement under the “Renewable Energy Solutions (RES)” project and four loan agreements totaling EUR 374 million for the following projects:

• “Improvement road network solidarity lanes FL” – EUR 134 million;

• “Ukraine Water Recovery” – EUR 100 million;

• “Ukraine Recovery Programme III – Tranche B” (reconstruction of educational institutions and water supply and wastewater systems) – EUR 100 million;

• “Ukraine Digital Emergency Response Service" (implementation of the single emergency number 112 system, including accessibility for persons with disabilities) – EUR 40 million.

The project implementing agencies are the Ministry for Development of Communities and Territories of Ukraine and the Ministry of Internal Affairs of Ukraine.

Last year, Ukraine also received EUR 144.6 million in EIB loan financing for urban infrastructure development. The funds were allocated to the special fund of the State Budget of Ukraine.

As of early 2026, the EIB remains one of Ukraine’s leading donors and partners, with one of the largest loan portfolios in the public sector, covering 27 projects with a total value of EUR 4.7 billion. Disbursements under these projects amount to EUR 3.2 billion.

“I am grateful to the European Investment Bank for its flexibility and speed in approving financing. The nearly EUR 145 million mobilized in 2025, along with newly signed agreements, enabled the continuation of critically important investment projects, particularly at the municipal and community levels. At a time when more than 60% of the State Budget is directed to security and defense due to the full-scale war, such support is especially valuable for Ukraine. Investments in cities are investments in people and their future. We highly value our partnership with the EIB and count on its further deepening to support the country’s recovery and modernization,” said Olga Zykova.

Despite ongoing security challenges, the Government of Ukraine is already implementing priority recovery measures for 2026 totaling USD 15.25 billion (according to the Fifth Rapid Damage and Needs Assessment – RDNA5), of which approximately 34% is covered by the State Budget and confirmed partner support.

Key funding priorities in the 2026 State Budget include the housing sector (almost USD 1.1 billion), economic support (around USD 1.2 billion), infrastructure projects (USD 950 million), and energy and energy efficiency (USD 310 million).

Key results of cooperation between Ukraine and the EIB in 2025:

Under the EIB’s “Ukraine early recovery program”  and “Ukraine Recovery Programme,”  the Ministry of Finance financed the restoration and modernization of social infrastructure in Ukrainian cities (schools, hospitals, kindergartens, administrative service centers, water supply and wastewater systems) – 126 facilities in total – amounting to over EUR 55 million.

• Approximately EUR 145 million was mobilized from the EIB in 2025 to implement investment projects aimed at restoring and reconstructing municipal and social infrastructure.

• Financing was provided for the supply of five trams to Odesa and 20 buses to Kyiv.

• Landfill rehabilitation works were carried out in Hrybovychi (Lviv), and water supply and wastewater systems were restored in Lutsk.

• Thermal modernization works were completed at four educational institutions in Rivne, Kovel, and Korets.
• Energy-efficient modernization of 72 dormitories and academic buildings of higher education institutions was implemented.

Overall, in 2025 the EIB Group provided EUR 1.5 billion in new financing for projects in energy and infrastructure, SME development, and the advancement of European integration.

In particular, under this support, agreements backed by EU guarantees were signed for the first time totaling EUR 420 million: EUR 300 million for Naftogaz of Ukraine for emergency natural gas purchases and EUR 120 million for Ukrhydroenergo to restore damaged hydropower equipment. The Bank also expanded its business support instruments through SME lending, fund investments, and EU export credit guarantees totaling EUR 685 million.

Regarding plans for 2026–2027, the joint project pipeline foresees approximately EUR 600 million in investments in logistics, digitalization, and the green transition. Continued partnership with the EIB is also an important element of Ukraine’s EU accession path, contributing to standards alignment, strengthened project preparation capacity, and the development of institutions capable of operating effectively within the European investment ecosystem.

EIB financing is provided under guarantees of the European Commission within the framework of the European Union’s Ukraine Facility initiative. In 2026, further expansion of EU guarantees and blended finance instruments (combining loans and grants) is planned to mobilize additional recovery resources without significantly increasing the debt burden.