In 2025, the European Investment Bank (EIB), together with the European Investment Fund as part of the EIB Group, provided Ukraine with nearly €1.5 billion in new financing — a record level since the beginning of Russia’s full-scale invasion.
The financing was directed toward energy, critical infrastructure, small and medium-sized enterprises (SMEs), and the deepening of Ukraine’s integration with the European Union. Since 2022, total financing backed by EU guarantees has exceeded €4 billion.
Energy remained a central priority in 2025.
- An agreement worth €300 million was signed with Naftogaz of Ukraine, complemented by a €127 million EU grant (with support from Norway), to replenish gas reserves and stabilize supply. Naftogaz committed to reinvesting an equivalent amount into renewable energy and decarbonization projects.
- €120 million was allocated to Ukrhydroenergo for the restoration of strategic hydropower plants.
- €200 million was provided through partner banks to modernize district heating systems in municipalities.
EIB President Nadia Calviño emphasized that energy, heating, water supply, transport, healthcare, and education form the backbone of daily life and national resilience.
The EIB continued financing community recovery programs across Ukraine — from border regions to frontline areas.
Under three recovery programs totaling €740 million (including €100 million signed in 2025), reconstruction of water supply systems, heating networks, schools, hospitals, and housing is being supported in more than 150 communities. Over 500 projects are currently being implemented nationwide.
Separately, the €100 million Ukraine Water Recovery project was signed in 2025 to restore and modernize water supply and wastewater systems damaged by the war.
In 2025, the EIB continued to support Ukraine’s EU integration through infrastructure investments:
- €134 million for the repair of bridges and roads and modernization of border infrastructure along the EU “Solidarity Lanes”;
- €40 million to implement the EU-standard 112 emergency call system in Ukraine.
- The first European-gauge railway line between Chop and Uzhhorod was also opened, marking another step toward transport integration with the European Union.
EU Ambassador to Ukraine Katarína Mathernová noted that EU guarantees enable the EIB to invest in Ukraine at scale, delivering tangible results of European solidarity.
Support for economic activity remained critical in 2025.
- Agreements were signed with seven Ukrainian banks under the EU4Business Guarantee Facility program, expected to mobilize approximately €250 million in financing for around 4,600 SMEs, including businesses owned by veterans, internally displaced persons, women, and young entrepreneurs.
- €15 million was invested in the Ukraine Phoenix Tech Fund.
- €50 million was allocated to the Amber Dragon Ukraine Infrastructure Fund.
- €70 million was provided as a loan to Ukrgasbank to expand access to long-term financing for SMEs and mid-cap companies.
- Progress was also made on a €300 million export credit guarantee initiative under InvestEU, supporting European companies exporting to Ukraine.
Deputy Minister of Finance of Ukraine Olha Zykova emphasized that stable external financing remains essential for the country’s functioning and reconstruction during wartime.
In 2026, the EIB Group will focus on:
- further strengthening energy resilience;
- expanding private sector support instruments;
- financing social and municipal infrastructure;
- enhancing technical assistance to meet EU accession requirements.
As the financial arm of the European Union, the EIB reaffirmed its long-term commitment to supporting Ukraine’s resilience, recovery, and irreversible integration into the EU.
