Estonia provides guarantee of €10 million for EIB’s EU for Ukraine Fund
04.04.2024
The European Investment Bank (EIB) and the Republic of Estonia have signed a contribution agreement under which Estonia is providing €10 million to the EU for Ukraine Fund. Launched by the EIB in 2023, this fund is a part of a larger EU for Ukraine (EU4U) initiative to address urgent needs and sustain economic stability in Ukraine.
This was announced by the Delegation of the European Union to Ukraine.
The EU4U Fund supports critical recovery and reconstruction projects involving both the public and private sectors, and improves access to finance for entrepreneurs in Ukraine. To date, it has secured over €400 million in commitments from the majority of EU Member States.
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Operations of the EU4U Fund are currently supported by contributions from ten donors: Belgium, Cyprus, Denmark, Estonia, France, Latvia, Lithuania, Luxembourg, the Netherlands and Spain. Further donors have made pledges and are expected to contribute to the fund in future.
The fund’s first investment provided €25 million for Ukraine’s equity growth fund to bolster small and medium businesses in Ukraine and Moldova.
On 18 March 2024, the Contributors’ Committee of the EU4U Fund approved two additional projects amounting to €90 million in EIB lending, backed by guarantees from the fund. These projects will rapidly rebuild and rehabilitate damaged apartment buildings in Ukraine, and improve essential export routes (Solidarity Lanes) in need of immediate, extensive repairs to maintain Ukraine’s export of agricultural and other products to the European Union.
