- EIB Vice-President Teresa Czerwińska joined EU and Eastern Partnership leaders at the Eastern Partnership Foreign Ministers meeting in Brussels.
- As the EU bank, the EIB fully supports the Eastern Partnership’s agenda for recovery, resilience and reforms underpinned by the EU Economic and Investment Plan.
- The EIB has provided €11 billion of financing to the Eastern Partnership countries since the establishment of the partnership in 2009.
At the Eastern Partnership Foreign Ministers meeting in Brussels, EIB Vice-President Teresa Czerwińska joined EU and Eastern Partnership leaders in confirming a commitment to step up cooperation promoting economic recovery and sustainable investment in the Eastern Neighbourhood, as well as tackling security challenges and the consequences of the Russian war against Ukraine for the entire region.
In her address to the EU and Eastern Partnership foreign ministers, EIB Vice-President Teresa Czerwińska, who is in charge of operations in the Eastern Partnership countries, said: “As the bank of the European Union, our responsibility is to support Eastern Partnership countries at this extremely challenging time for the region. Since the first days following Russia’s invasion we have worked closely with our Ukrainian partners, as well as with the European Commission and others, to mobilise immediate financing for Ukraine’s most urgent needs, and then to prioritise the implementation of existing projects that can best enhance or rebuild the country’s critical infrastructure. This support will need to continue over the coming year. Together with the European Commission, Ukraine and other European and global partners, we are already preparing the way to be ready to further step up support — both financial and advisory — for Ukraine’s reconstruction now and once the war is over.
“We also pledged to support Ukraine’s neighbouring countries most affected by the war and have worked closely with the Moldovan authorities to prioritise investments in key sectors such as energy and transport, including in support of the EU Solidarity Lanes initiative. Following the EU decision to grant candidate country status to Moldova and Ukraine, and an EU perspective to Georgia, we will also focus on investments that can best support all three countries on their path towards accession. In Armenia and Azerbaijan we remain committed to financing projects of common interest including in support of regional connectivity, climate action and the environment, as well as support for small businesses and social infrastructure.
“The European Union, including the EIB, together with its Team Europe partners and our partners in the Eastern Neighbourhood, share the same vision of a safe, prosperous, green and sustainable future for our children, a future that offers stability, security, prosperity and a clean environment to all. We want to remain a reliable source of financial and technical support for the Eastern Partnership and advance post-war recovery, connectivity, sustainable development and the climate action agenda in the region. Together we will support the flagship projects under the EU Economic and Investment Plan, in an effort to maximise our joint efforts to the benefit of the people of the region.”
Committed partner to the Eastern Partnership
The Eastern Partnership region and the European Union are facing unprecedented challenges, in particular the consequences of the Russian aggression against Ukraine affecting the lives of millions of people and having major economic repercussions including inflationary pressure, the energy shock and disruption of the value chain. This is, in many ways, unprecedented.
Being a key stakeholder in the Eastern Partnership, the EIB continues to support measures to mitigate the economic and social impact of the crisis in the region, aiming to strengthen the resilience, economies and societies of Armenia, Azerbaijan, Georgia, Moldova and Ukraine.
Since the beginning of the illegal full-scale Russian invasion of Ukraine on 24 February 2022, the EIB Group has disbursed over €1.7 billion of EU financing to the government of Ukraine to meet the country's urgent financial needs and support immediate reconstruction. The EIB continues to work with the European Commission and EU Member States to ensure the Bank can provide financing for Ukraine’s most urgent critical infrastructure needs over the coming year, and support Ukraine’s full-scale reconstruction and journey towards EU membership.
This year, the EIB made new investments in Moldova designed to support transport, energy and healthcare projects across the country. These investments will help it to mitigate the economic and social effects of Russia’s invasion of Ukraine, and support Moldova’s accession to the European Union. This year, the EIB has signed €150 million of new projects with Moldova, with another €100 million likely to be approved and signed very shortly. These loans aim to improve major transport links in Moldova.
One of the priorities we have been focusing on in response to Russia’s aggression is the EU Solidarity Lanes initiative. As one of the medium- to long-term measures set out in the Solidarity Lanes action plan, the EIB and the European Commission have launched a pre-feasibility study to assess how to better connect the Ukrainian and Moldovan railway networks with the European Union. This is a strategic investment for sustainable, green economic growth and to improve global food security.
This year, EIB activities in Armenia, Azerbaijan and Georgia aimed to provide enhanced transport connectivity, access to finance for small businesses (SMEs), investments in equity to strengthen competitiveness and integration into EU value chains, support for the digital transition, investment in environment and climate resilience (including energy efficiency and water consumption by irrigation systems), and health resilience and human capital development.
These investments reinforce the European Union’s support for the Eastern Partnership countries as well as Team Europe’s commitment to ensuring their democratic, sustainable and resilient socioeconomic development.
All of EIB Global’s activities are designed to support the EU Economic and Investment Plan for the Eastern Partnership presented by European Commissioner Olivér Várhelyi in July 2021. In cooperation with the European Commission, peer international financing institutions and EU Member States, the EIB is working actively on how best to roll out the Economic and Investment Plan to help Eastern Partnership countries address these key areas, especially the green transition, digitalisation and private sector support.
Background information
EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
