Investments for recovery: EU sets up Investment Framework under its Ukraine Facility
On 18 April, the EU set up the Ukraine Investment Framework, the financial arm and an integral component of the €50 billion Ukraine Facility to incentivise public and private investments for the recovery and reconstruction of Ukraine.
At the inaugural meeting of the Steering Board of the Ukraine Investment Framework on 17 April, EU Member States adopted the rules of procedure and the Strategic Orientations for the Ukraine Investment Framework, kick-starting work on the first investment programmes.
They are expected to be signed at the Ukraine Recovery Conference on 11 and 12 June in Berlin.
The Board provides strategic and operational guidance and ensures its alignment with the Ukraine Plan, Ukraine’s strategy for reforms and investments in the next four years, which has been positively assessed by the Commission this week.
The Ukraine Investment Framework is equipped with a financial package totalling €9.3 billion, with €7.8 billion for loan guarantees and €1.51 billion for blended finance. The Ukraine Investment Framework is expected to mobilise up to €40 billion in public and private investments over the next years.
“The Ukraine Investment Framework will focus on assisting small and medium-sized enterprises, municipalities and regions, rebuilding infrastructure, and fostering the green and digital transitions. Rebuilding Ukraine means rebuilding the country according to EU rules and standards,” said European Commissioner for Neighbourhood and Enlargement, Oliver Várhelyi, at the ‘Ukraine’s Future Summit’ in Brussels. The event was co-organised by the European Commission and the Belgian Presidency of the European Union.
The conference gathered some 500 representatives of EU institutions, governments, financial institutions and businesses to discuss opportunities offered by the EU to mobilise investment in Ukraine’s recovery and reconstruction.
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