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EIB will invest EUR 800 million in projects in Ukraine over 2016

EIB will invest EUR 800 million in projects in Ukraine over 2016EIB 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 said 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.

Read also: Priority goals for Ukraine are changing balance of economy, reducing budget deficit - Moody’s

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.
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