EU unveils new €1.5 billion investment boost to drive Ukraine’s recovery, reconstruction and modernisation

Today, a new package of eight programmes helping Ukraine tackle the country's most urgent economic and social challenges was endorsed by the sixth Steering Board of the Ukraine Investment Framework(UIF).

These programmes, worth EUR 1.5 billion and aimed at unlocking EUR 3.4 billion of new investments, will bring support to vital sectors, like energy, education, connectivity, agriculture, and small business, as well as fund the construction of shelters in education facilities.

For the first time, the UIF will also allocate resources to dual-use technologies and strategic industries. This follows the European Commission's commitment announced at the EU-Ukraine Investment Conferencelast November.

A unified European effort

Chaired by the European Commission, the sixth Steering Board of the Ukraine Investment Framework brought together today EU Member States, observers from the European Parliament, the Government and the Verkhovna Rada of Ukraine, the Government of Norway, and key European and international financial institutions.

The new programmes announced will be implemented by financing institutions - some that are already working with the Commission in Ukraine (EBRD, IBRD, KfW, IFC), and new partners (Finnvera, BPIFrance, CDP) - which shows the relevance of UIF in attracting new partners.

To date, the UIF has already allocated EUR 8.4 billion, representing 90% of its total capacity. These allocations are expected to mobilise EUR 25.2 billion in investments in Ukraine.

Background

The UIF is part of the EUR 50 billion EU's Ukraine Facility designed to attract public and private investments for the recovery and reconstruction of Ukraine. It is endowed with financial instruments totalling EUR 9.5 billion. The aim of the Ukraine Investment Framework is to directly contribute and to mobilise investments for recovery, reconstruction, and modernisation.

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