Speaking at the Third Ministerial Roundtable Discussion for Support to Ukraine, EIB President Werner Hoyer presented the Bank’s new package and Trust Fund to support reconstruction efforts in the country, including for kindergartens, roads and bridges destroyed by the Russian invasion. “Ukraine’s survival does not depend only on ammunition and guns, but in keeping the economy going. This is our focus," he said.
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Excellencies, dear friends,
As the European Union’s Bank, the European Investment Bank has taken all possible steps to support the economy of Ukraine during the last 14 months, focusing on those projects that provide impact and value, complementing military and humanitarian aid.
In full coordination with the Ukrainian authorities and with the support of the European Commission we are financing projects in fundamental areas of the economy: energy, roads and railways. We expanded our recovery programmes established in Eastern Ukraine in 2014, when we drew the consequences of the annexation of Crimea, to support essential municipal infrastructure projects.
We are now working with Ukrainian authorities on a strong pipeline, supporting public services and the recovery of the real economy for a total of €2 billion. Projects like the modernisation of hospitals in Kyiv and Odesa; schools, kindergartens and other public buildings in Dnipro, Sumy and Zaporizhzhia; and the restoration of tens of bridges and hundreds of kilometres of roads and railroads to expand the capacity of the public transport system and logistical corridors.
Ukraine’s survival does not depend only on ammunition and guns, but in keeping the economy going. This is our focus!
The Member States of the EU have recently approved the setting up of a new Trust Fund allowing the EIB to finance this pipeline. We are now working with the European Commission and all potential donors to make this operational as soon as possible. To speed up project implementation, our shareholders also approved €100 million of technical assistance.
These projects will not just support Ukraine’s resilience today in the face of Russian aggression, but they will literally pave the way for the country’s EU Membership, as we have done so many times before as the Bank of the EU.
With our experience of the integration of Eastern economies into the EU’s single market, we know very well how this can quickly ensure the conditions for the economy to thrive. That’s why we will work with the European Commission to deploy even more resources in the medium term, with the support of the EU budget.
I am here today to assure you, President Zelensky and Prime Minister Shmyhal, of our unwavering and continued commitment.
Thank you.