On 29 March, the European Investment Bank (EIB) approved the ‘EU for Ukraine’ Initiative, a new scheme to finance reconstruction and recovery in Ukraine. 

The initiative is conceived as a temporary scheme which will enable European Union member states, the European Commission and other countries and donors to support reconstruction and recovery in Ukraine. The EU for Ukraine Fund will provide credit enhancement to EIB loans for both public and private sector investment.

The EU for Ukraine Initiative will be accompanied by a €100 million dedicated technical assistance package. This will provide best-practice reconstruction advisory expertise in both Ukraine and Moldova and help develop priority investment projects, assisting Ukrainian and Moldovan project promoters facing challenging circumstances.

The EIB also agreed €1.8 billion in financing for sustainable transport, corporate innovation, clean energy, climate action and digitalisation across Europe and around the world.

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