European Investment Bank plans to provide EUR 800 million in loans to Ukraine

Source : 112 Ukraine

Last year EIB invested around EUR 1.2 billion
15:22, 16 May 2016

112 Agency

EIB will invest EUR 800 million in projects in Ukraine over 2016. In the long run, annual investment is likely to increase up to EUR 1 billion. EIB Senior Corporate Banker Jean-Jacques Soulacroup informed about it in an interview to “Interfax-Ukraina” during the 4th International Investment Conference “New Ukraine” in Kyiv on Monday.

“Last year EIB invested around EUR 1,2 billion. This year, I assume, the Bank will allocate EUR 800 million. We’re cooperating with the European Commission to see whether we can boost it up to EUR 1 billion a year and maintain it annually”, - the Banker said.

According to Soulacroup, around 60% of EIB investment in Ukraine is allocated on development of transport infrastructure, energetics, energy efficiency, municipal and ecology projects. Around 40% - on loans to small and medium enterprises through local partner banks.

Soulacroup pointed out, that the entire EIB loan portfolio in Ukraine amounts to EUR 4,3 billion: “There are refroms in Ukraine, but they’re not enough. The Bank’s portfolio in Ukraine is EUR 4,3 billion, but they’re not managed. This is a problem. This is critical – reforming public sector and privatization. These are priority issues”.

It has been reported earlier, that President of Ukraine Petro Poroshenko and U.S. Vice-President Joe Biden have reached an agreement on investment of USD 1 billion on reforms in Ukraine.

Related: EIB to enhance support to large corporate business in Ukraine

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