Ukraine can count on investment - EIB vice-president

This issue was discussed at a meeting between Ukrainian Prime Minister Volodymyr Groysman and EIB Vice-President Vazil Hudak, according to the press service of the Ukrainian government.

"Ukraine and the European Investment Bank, one of the main financial partners of the state, have discussed opportunities for enhancing cooperation through already approved cooperation projects and projects in the sphere of innovation development, educational space, energy modernization, and decentralization. As of October, the portfolio of the bank's projects in Ukraine includes 18 projects for a total of 5.67 billion euros. A range of project areas is from the reconstruction of towns in the east and the development of small and medium-sized businesses to improving road safety," the report says. 

It notes that the parties, among other things, discussed the possibility of systematic cooperation with municipalities in the segment of transport networks development.

"We will be glad to expand cooperation and maintain communication at the level of the bank-government-municipality," Groysman said.

The premier said that Ukraine is now overcoming serious economic and geopolitical challenges and implementing serious reforms, so the set of financial instruments offered by the European Investment Bank is useful.

Groysman informed Hudak about the current situation in Ukraine. He highlighted the priorities of the government, among them economic growth, the continuation of decentralization, reform in education, healthcare, the start of serious privatization, and approval of a draft state budget that will help preserve economic stability during the election process.

Hudak, in turn, said the EIB was really impressed with how much the government has done in Ukraine. He said the EIB was pleased to hear that Ukraine wants to become more innovative, more technological and the EIB is always ready to help the country.

He said the bank has an increased budget for projects in the Eastern Partnership countries, and Ukraine can count on these resources amounting to hundreds of millions of euros a year.

The parties agreed to institutionalize existing cooperation projects with the European Investment Bank and issue a joint roadmap for implementing initiatives.

The prime minister thanked for the proposal and stressed that Ukraine's economy would grow. "We need investments, so we will open up opportunities," Groysman said.

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