Ministry of Finance and EIB Leadership discussed a new project pipeline of around EUR 600 million for 2026-2027

Deputy Minister of Finance of Ukraine Olga Zykova held a meeting with representatives of the European Investment Bank (EIB), including Head of the Eastern Partnership Department of the Bank’s Public Sector Matteo Rivellini, Head of the EIB Regional Hub for Eastern Europe Kristina Mikulova, and the team of the EIB Ukraine Country Office.

The parties discussed the implementation status of the current project portfolio, measures to accelerate the mobilisation of financing, and a number of potential projects planned for implementation in Ukraine in 2026-2027.

In particular, Matteo Rivellini presented to the Ministry of Finance of Ukraine the expanded composition of the EIB Office team in Kyiv, which is expected to strengthen the Bank’s cooperation with Ukraine and enhance the efficiency of joint project implementation.

Olga Zykova expressed gratitude to the EIB for its continued support in restoring critically important sectors of Ukraine’s economy and municipal infrastructure and voiced hope for further productive cooperation.

As a result of discussions involving Ukraine, the EIB, and the European Commission, a preliminary list of projects for signing financing agreements in 2026–2027 was agreed. The total volume of the agreed operations could potentially reach up to EUR 600 million. These projects are aimed at the restoring of the road network, arranging cross-border crossings, strengthening the capacity of Ukrzaliznytsia, restoration of critical energy infrastructure, implementation of energy-efficiency measures for the reconstruction of multi-apartment residential buildings, and other initiatives under the investment component of Pillar II of the Ukraine Facility.

Among the agreed projects are “Improvement Road Networks Solidarity Lanes”, “Ukraine Western Border Infrastructure”, and “Ukraine Electricity Grid Resilience ”. The projects are currently undergoing coordination with the European Commission.

 “Ukraine welcomes the EIB’s readiness to sign a package of projects worth around EUR 600 million in the near future. This will make it possible to implement critically important recovery initiatives and strengthen the country’s resilience. We also count on the continued use of the European Commission’s guarantee mechanism provided to the EIB under the Ukraine Facility, which helps mobilize resources without creating additional pressure on public debt. Our priority is the efficient and transparent use of every euro of financing for reconstruction,” Deputy Minister of Finance Olga Zykova emphasised.

As of today, the EIB’s portfolio in Ukraine comprises 27 projects with a total value of EUR 4.7 billion. Key financing areas include the development of transport and social infrastructure (schools, kindergartens, healthcare facilities), improvement of energy efficiency in public buildings, restoration of energy and other critical facilities, as well as renewal of public transport rolling stock.

In 2025, nearly EUR 145 million was disbursed for joint projects. In addition, five new financing agreements totalling EUR 390.5 million were signed, including a EUR 16.5 million grant agreement. These funds will be directed toward the digital infrastructure of emergency response services, restoration of road connections with EU countries, and the reconstruction of social and critical infrastructure in Ukrainian communities.

Furthermore, the EIB supported the restoration of Ukraine’s power sector and the preparation of communities for the heating season. This includes projects for Ukrhydroenergo and Naftogaz of Ukraine totalling EUR 420 million – the first EIB operations for Ukrainian state-owned companies without sovereign guarantees, covered instead by EU guarantees. This new financing approach has already demonstrated its effectiveness and enabled swift support to address the most critical needs.