Ukraine, EIB sign agreement on advisory support for Ukraine FIRST infrastructure projects

The Government of Ukraine and the European Investment Bank (EIB) signed a cooperation agreement to provide consulting services within the framework of the Ukraine FIRST Infrastructure Project Facility initiative, the press service of the Ministry of Economy, Environment and Agriculture reported.

As the ministry explained, the goal of the agreement is to improve the quality of investment project preparation at the national, regional, and local levels. Cooperation will take place through special project preparation programs (Project Preparation Facilities, or PPFs), which will enable the transformation of infrastructure ideas into structured projects ready for financing in accordance with international standards.

According to the agreement, the first pilot project will focus on the M15 highway, connecting Odesa with the Romanian border. The project includes developing a transport plan for Odesa region and facilitating the modernization of this key route. Strengthening the M15 corridor will improve access to Danube ports, support Ukrainian trade, and strengthen ties with the European Union.

"Today’s 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 Oleksiy Sobolev, Minister of Economy, Environment, and Agriculture, in the publication.

EIB Vice-President Karl Nehammer added that the agreement is an important step in supporting Ukraine’s recovery and its progress towards EU membership through well-designed investments.

"Proper preparation is crucial to ensure that infrastructure projects are implemented effectively, receive the necessary funding and meet European standards," Nehammer noted.

Key areas of cooperation include the preparation of public investment projects (PIPs), i.e., assistance to project initiators in developing feasibility studies and design and estimate documentation, as well as strengthening institutional capacity, i.e., training and advisory support for state and local authorities to effectively manage investment portfolios.

The implementation of the agreement is expected to increase the number of commercially attractive projects (bankable projects) to attract funds from international financial institutions and private investors.