On March 6, during a forum in Luxembourg, the European Commission and the European Investment Bank (EIB) signed two key agreements to accelerate Ukraine’s recovery. The first provides for a €2 billion guarantee for critical recovery and reconstruction projects in Ukraine, and the second involves the engagement of experts under the JASPERS advisory program to accelerate the implementation of public investment projects.
The first agreement will ensure the continued implementation of urgent recovery and reconstruction projects in Ukraine. This financing, aligned with the priorities of the Government of Ukraine, is part of the EU’s Ukraine Facility, a financial support mechanism for Ukraine.
The funds will be used to finance public projects in key sectors, namely to strengthen Ukraine’s energy networks, including the expansion of hydropower and renewable energy production, as well as energy efficiency.
In addition, the funding will support the modernization of railways, the development of urban public transport, and the improvement of transport infrastructure, including the Solidarity Roads initiative, which provides for the implementation of projects aimed at improving transport links between Ukraine and the EU.
The funds will also help restore municipal infrastructure such as water supply, heating systems, street lighting, schools, hospitals, and higher education institutions. The first projects under this guarantee were already announced during the recent visit of EIB President Nadezhda Calvigno to Kyiv.
Under the second agreement, Ukraine is engaging JASPERS consultants to help engage teams of experts to support the implementation of EIB investments in Ukraine under the Ukraine Facility. The experts will help to prepare and implement critical projects faster. Initially, the focus will be on the energy, transport, and social housing sectors, and later the experts will cover other areas, including public investment management (PIM) reform.
JASPERS consultants will help government agencies and communities develop and implement investment projects in accordance with EU standards. The initiative is being implemented as part of the JASPERS advisory program, which has been expanded to Ukraine. The program is funded by the EIB and the European Commission, which have allocated €20 million for advisory support to Ukraine’s economic development.
For reference:
In Ukraine, JASPERS has been supporting the development of transport infrastructure since 2022, helping to develop a strategy for the integration of the Ukrainian and Moldovan rail systems into the EU, expanding border capacity to reduce waiting times, and advising on national transport strategies, including the creation of a European gauge rail link between Lviv and the borders with Slovakia and Hungary, and between Lviv and the border with Romania.
Source: https://me.gov.ua/
