The Government of Ukraine and the European Investment Bank (EIB) have signed a cooperation agreement on providing advisory services within the Ukraine FIRST Infrastructure Project Facility initiative.
The goal of the agreement is to improve the quality of preparation of investment projects at the national, regional, and local levels. Cooperation will take place through special Project Preparation Facilities (PPFs), which will allow infrastructure ideas to be transformed into structured projects ready for financing according to international standards.
During the signing ceremony, Ukraine’s Minister of Economy, Environment and Agriculture, Oleksii Sobolev, emphasized that this initiative is critically important for advancing public investment management (PIM) reform.
“We see PIM reform as a key tool that ensures the strategic use of state resources and international assistance. Today, the main challenge is not only the availability of funding, but also the quality and readiness of projects for investment and implementation. The agreement we signed strengthens our partnership with the EIB: Ukraine FIRST will help prepare priority projects in line with international standards at all levels — national, regional, and local — and this will accelerate Ukraine’s recovery and long-term development,” said Oleksii Sobolev.
“This agreement is an important step in supporting Ukraine’s recovery and its path toward EU membership through well-prepared investments. Proper preparation is crucial so that infrastructure projects are implemented effectively, receive the necessary financing, and comply with European standards,” said EIB Vice President Karl Nehammer.
Key areas of cooperation under the agreement:
- Preparation of public investment projects: support for project initiators in developing feasibility studies and project documentation.
- Strengthening institutional capacity: training and advisory support for national and local authorities to effectively manage investment portfolios.
As a result of the agreement, Ukraine is expected to have more bankable projects attractive to international financial institutions and private investors.
The agreement is part of the EIB’s systematic support aimed at modernizing Ukraine’s economy and strengthening the resilience of communities during wartime.
According to the agreement, the first pilot project will focus on highway M15, which connects Odessa with the Romanian border. The project includes the development of a transport plan for the Odessa region and support for the modernization of this key route. Strengthening the M15 corridor will improve access to Danube ports, support Ukrainian trade, and enhance connectivity with the European Union.
The agreement also creates a framework for EIB support of a number of other projects through the state’s Single Project Pipeline in the coming years. These future projects are expected to include potential investments in energy and railway infrastructure.
