The European Investment Bank increased its new investments in Ukraine last year by 50%

By bne IntelliNews February 7, 2021

The European Investment Bank increased its new investments in Ukraine last year by 50% year on year, to more than €1bn, bringing total EIB investment in Ukraine to €7.5bn, Jean-Erik de Zagon, the bank’s resident representative for Ukraine, told reporters at the start of February.

Bank vice-president Teresa Czerwinska said Ukraine now receives 60% of EIB money destined for the Eastern Neighbourhood, a group of 16 countries to the east and the south of the EU. She said: “We delivered record investment of over €1bn in Ukraine in 2020, focusing our operations on support for conflict-affected regions of eastern Ukraine, sustainable and green infrastructure, digitalisation, innovation and business recovery after [coronavirus] COVID-19.”  

Separately the EBRD is considering approving in March an $80mn loan to Ukraine’s leading sunflower seed producer Kernel for the purchase, storage, processing, transportation and export of agricultural goods. As of last June, Kernel’s net debt was $980mn.

 

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