Olga Zykova: International financial institutions have allocated additional funding for projects in Ukraine under the Ukraine Investment Framework

Deputy Minister of Finance of Ukraine Olga Zykova took part online in the fifth Steering Board of the Ukraine Investment Framework (UIF). Its goal is to ensure coordination of financial support for Ukraine’s recovery and development.

During the meeting, additional funding for projects supporting Ukraine’s recovery and development was approved. The decision was agreed upon by representatives of the European Commission, the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), the Polish Development Bank (BGK), KfW Development Bank, the International Bank for Reconstruction and Development (IBRD), and other financial institutions.

In particular, the participants approved the allocation of additional grant and loan financing under EU guarantees for the World Bank projects: in the agricultural sector (ARISE), transport infrastructure (RELINC), healthcare (HEAL); as well as EIB projects – construction of social housing (Ukraine Social Housing (Tranche 1)), restoration of the water supply system (Ukraine Water Recovery Project), and the emergency purchase of gas (the Government of Norway is ready to provide a grant for gas procurement).

The Ukrainian side also presented its proposal – the Food4Impact (F4i) project, aimed at restoring and developing the agricultural sector, which has suffered significant losses due to the war. The project seeks to provide financing to agricultural companies, banks, and trade finance operations to strengthen food security, support Ukraine’s economy, and integrate it into European markets through financing private agribusiness.

Deputy Minister of Finance emphasized the importance of avoiding new debt risks for the State Budget by utilizing EU guarantee mechanisms instead of state guarantees. She also highlighted the need to continue supporting projects launched in 2024-2025.

“It is essential for Ukraine not only to attract resources but also to establish reliable mechanisms for their effective use. Each project must be financially sustainable in the long term and not create an excessive burden on the State Budget. We are ready for constructive cooperation with all partners to achieve these goals,” said Olga Zykova.

The conclusions developed during the meeting will guide further decisions on financing under the Ukraine Investment Framework.

The Ukraine Investment Framework (UIF) is a comprehensive investment instrument and a key component (Pillar 2) of the EU’s Ukraine Facility program worth EUR 50 billion. It combines public and private resources, as well as EU guarantee mechanisms, to create sustainable financial conditions for Ukraine’s development.

As of July 2025, the total funding envisaged under the Ukraine Investment Framework amounts to EUR 9.4 billion, including EUR 1.6 billion in grants. Ukraine has already received EUR 6.2 billion, while the Ukraine Facility foresees nearly EUR 2.5 billion for the implementation of investment projects in 2026-2027.

Most of the UIF resources are directed to projects in energy (40%), transport (9%), social housing (6%), water supply (5%), and digital infrastructure (3%), among others.