The European Investment Bank (EIB) invested over €1 billion in Ukraine in 2020 alone, the year of the worst global health and economic crisis for generations, marking the second-highest investment volume in the history of the Bank’s activities in the country. This represents an increase of more than 50% compared to 2019. Total EIB investment in Ukraine has now reached €7.5 billion.
In response to the COVID-19 crisis, the EU bank rapidly redirected its efforts towards fighting the pandemic and its economic consequences and supporting the faster economic and social recovery of Ukraine.
The EIB financed small and medium-sized enterprises (SMEs) to ensure they can survive the crisis and continue to provide jobs. It also invested in infrastructure rehabilitation and development, innovation, and improvements in public transport and key public services such as education and the postal service. In 2020, the EIB supported 75 SMEs and mid-caps and helped sustain close to 18 500 jobs in Ukraine.
EIB Vice-President Teresa Czerwińska, who is responsible for operations in Ukraine, said: “Despite a tough and challenging 2020, the EIB continued to make a much-needed contribution to the Ukrainian economy and its people. We delivered a record investment of over €1 billion in Ukraine in 2020, focusing our operations on support for conflict-affected regions of eastern Ukraine, sustainable and green infrastructure, digitalisation, innovation, and business recovery after COVID-19. Ukraine is the main recipient country of EIB investments in the Eastern Neighbourhood, accounting for more than 60% of the EIB’s lending activity in the region and supporting the European Union’s policies in its neighbourhood.”
The EIB operations signed in 2020 supported the priorities of the Government of Ukraine and the European Union and helped the country to recover faster from the pandemic and to increase its economic resilience.
Setting a green and digital agenda for 2021
The European Investment Bank remains committed to the Eastern Partnership (EaP) region and to Ukraine in particular. The EIB’s transition towards its role of EU climate bank and the deployment of its digital agenda will be the operational anchors for the Bank’s lending objectives in Ukraine in 2021 and beyond.
