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    This week the European Investment Bank (EIB) welcomed Ukrainian government officials involved in the preparation and implementation of EIB-funded projects to discuss ways of speeding up and increasing the efficiency of multiple recovery projects. The initiative was supported by the Ministry of Finance of Ukraine and the European Commission. 

    From 25-27 June, Ukrainian partners from various ministries and agencies participated in several sessions to deepen their expertise in EIB policies and procedures, their understanding of the Bank’s project cycle, existing coordination mechanisms, as well as reporting and monitoring requirements. This workshop, focused on deepening project preparation and implementation expertise within Ukrainian ministries and agencies, is part of a series of initiatives financed by the EIB’s EU for Ukraine Advisory Programme.

    Stronger advisory assistance for Ukraine

    The scale of reconstruction in Ukraine is colossal, with recent assessments by the government of Ukraine, the World Bank Group, and the European Commission estimating costs at $486 billion over the next decade. The reconstruction efforts in Ukraine require an unprecedented capacity to design, prepare, procure and manage investment projects.

    To support Ukraine and Moldova in this endeavour, in September 2023 the EIB launched the €100 million EU for Ukraine Advisory Programme as part of its broader EU for Ukraine Initiative. This programme provides technical assistance and advisory support to help the countries prepare for significant investments and improve their ability to meet EU accession targets.

    The programme’s support extends to several key areas. For example, it recently contributed €10 million to extend the mandate of JASPERS (Joint Assistance to Support Projects in European Regions) to Ukraine, bringing in more experts to help build capacity for developing and executing investments based on EU standards and legislation. It also provided €400 000 to Naftogaz, Ukraine’s national oil and natural gas company, to help develop its decarbonisation strategy in line with EU climate policies.

    Additionally, the EU for Ukraine Advisory Programme has provided technical assistance funds to support the implementation of the Ukraine Higher Education project designed to improve the energy efficiency of Ukrainian universities as well as the Ukraine Urban Public Transport project. The programme has also allocated €10 million in technical assistance funds for financial inclusion and recovery initiatives in Moldova and Ukraine, aiming to help financial institutions offer responsible and inclusive services that address EU policy objectives on climate action, sustainability and social standards.

    These and other initiatives supported by the programme collectively aim to strengthen implementation capacity for projects in Ukraine and Moldova at various levels, ensuring that major investments needed for their reconstruction and development can proceed as seamlessly as possible.