President of Ukraine

Volodymyr Zelenskyy met with the President of the European Investment Bank

27 November 2023 - 21:19

Volodymyr Zelenskyy met with the President of the European Investment Bank

President of Ukraine Volodymyr Zelenskyy met with President of the European Investment Bank Werner Hoyer and EIB Vice-President Teresa Czerwińska, who arrived on a visit to Ukraine.

The Head of State thanked the EIB leadership for visiting Ukraine and the decision to open the Regional Hub of the European Investment Bank for Eastern Europe in Kyiv.

The EIB's regional hub in the Ukrainian capital will play an important role in supporting Ukraine's recovery and reconstruction efforts.

"First of all, this is an important signal to our people that you believe in Ukraine, in the development of our country. It is also significant for Ukrainian business," Volodymyr Zelenskyy emphasized.

The President noted the bank's decision in 2022 to use €1.7 billion of EIB funds for the priority needs of the state budget of Ukraine.

During the meeting, special attention was paid to accelerating the implementation of existing investment projects, in particular on the ground in the regions.

"We would like to prioritize infrastructure projects for the restoration of our country. So that this work has a greater effect," Volodymyr Zelenskyy said.

For his part, Werner Hoyer noted that the visit of the EIB delegation to Ukraine is evidence of unwavering support, especially in the face of Russian aggression.

"From the very beginning of the Russian invasion, we have been working with the Ukrainian authorities to facilitate reconstruction projects, supporting the country's remarkable resilience. With the opening of our EIB Regional Hub for Eastern Europe in Kyiv, we want to emphasize our renewed commitment to accompany Ukraine on its European path. Ukraine is an integral part of the European family and the EIB is a key part of the EU's long-term support," he said.

According to Werner Hoyer, the European Investment Bank continues its close cooperation with Ukraine, which includes a series of new initiatives to rebuild infrastructure and support the Ukrainian economy. Among these initiatives are two loan agreements totaling €450 million recently approved by the EIB's Board of Directors. The initiatives will be financed through the EU for Ukraine fund, which is part of the EIB's EU4U program, aimed at recovery and reconstruction programs in Ukraine. The fund is backed by contributions from member states and guarantees from the European Commission, totaling €500 million to date.