Meeting between Ukraine’s Ministry of Finance and the EIB in Washington: Support for the energy sector will be expanded

As part of the Annual Meetings of the International Monetary Fund and the World Bank in Washington, D.C., Minister of Finance of Ukraine Sergii Marchenko met with President of the European Investment Bank (EIB) Nadia Calviño.

The discussion focused on the current EIB project portfolio, the outcomes of cooperation in 2025, and Ukraine’s financing needs for 2026.

The meeting was also attended by Deputy Minister of Finance Olga Zykova, Deputy Minister of Finance for European Integration Yuriy Draganchuk, and Government Commissioner for Public Debt Management Yuriy Butsa.

The Minister expressed gratitude to the EIB President for the Bank’s unwavering support since the start of russia’s full-scale invasion.

“The European Investment Bank remains one of Ukraine’s key partners and largest lenders. The Bank has made a significant contribution to maintaining our country’s economic stability - from restoring critical infrastructure and reconstructing buildings damaged by russian attacks to ensuring reliable heating season preparedness. 

Today, our cooperation has reached a new level: we are also attracting financing without state guarantees, backed by the EU’s guarantee mechanisms. This opens new opportunities to expand our partnership and implement more projects essential for Ukraine’s recovery,” - stated Minister of Finance Sergii Marchenko following the meeting.

The Minister thanked the EIB for its continued support for Ukraine’s recovery and for the loan agreements signed in 2025 totaling EUR 374 million, as well as a EUR 15 million grant agreement. 

The Ukrainian side emphasized the need to expand support for the energy sector due to systematic shelling by russia. The EIB recently signed agreements under EU guarantees, including: EUR 300 million in financing for gas purchases by Naftogaz of Ukraine, and EUR 120 million for Ukrhydroenergo to procure energy equipment for the restoration of hydroelectric power plants.

The parties also discussed plans for the effective use of EIB resources in 2026 to implement the investment component of Pillar II of the Ukraine Facility. It is important to maintain the possibility of using European Commission guarantees to finance key projects without state guarantees.

Currently, the EIB provides financial resources for restoring critical infrastructure, including roads, railways, bridges, damaged energy facilities, medical institutions, and other social infrastructure. The Bank also supports long-term recovery projects such as the reconstruction of destroyed public buildings and infrastructure.

Today, the EIB’s loan portfolio in Ukraine is one of the largest among international financial institutions, consisting of 27 projects worth EUR 4.7 billion. Since the start of russia’s full-scale invasion, the EIB has mobilized over EUR 2 billion in emergency financing, which has helped stabilize Ukraine’s economy during wartime.