The EIB has increased investment in Ukraine by 700% and plans to allocate €100M for the restoration of hydropower.

In 2023, the European Investment Bank increased project financing in Ukraine by 700% compared to the previous year, up to €262M. The main direction for this financing was €133M to restore damaged critical energy infrastructure.

As noted by the Ministry of Finance, EIB initiatives in the state sector currently comprises 25 projects with a total volume of €5.2B. Of these, 23 projects with a total volume of €4.8B are in the implementation stage.

During a meeting of Ukrainian government representatives and EIB management, the parties agreed to continue their work on the effective implementation of current and potential projects and the attraction of new bank investment in Ukraine.

According to Prime Minister Shmyhal, the EIB is considering allocating approximately €100M to support Ukraine’s hydropower industry. According to him, Ukraine’s hydropower industry has lost about 2,500 MW of capacity through Russian aggression.