The European Investment Bank (EIB) is the EU’s lending institution. Together with the European Investment Fund (EIF), which focuses on guarantees and risk capital for SMEs, it forms the EIB Group. In Ukraine, the group is a key implementer of the EU’s Ukraine Facility and Ukraine Investment Framework.
Key figures (as reported by the EIB and the Commission)
- Since the full-scale invasion in 2022, EIB financing in support of Ukraine has reached more than €4.5 billion (EIB, 12 November 2026). The EIB Group has been present in Ukraine since 2007.
- In 2025 the EIB Group provided record new financing of almost €1.5 billion under EU guarantees.
- On 6 March 2025 the European Commission and the EIB Group signed a €2 billion guarantee agreement under the Ukraine Investment Framework.
- The EIB reports recovery programmes with Ukrainian authorities and UNDP worth €740 million, supporting around 500 schools and hospitals.
- The EU for Ukraine (EU4U) Fund, set up in 2023, finances public- and private-sector reconstruction and recovery projects.
Recent example: guarantees for SMEs through Ukrainian banks (November 2026)
On 12 November 2026 the EIB Group signed EU-backed guarantee agreements with Ukreximbank and Oschadbank. These are expected to unlock €286 million in loans for around 2,200 war-affected SMEs – up to €143 million per bank – under the Ukraine Facility Partial Portfolio Guarantee implemented by the EIF. A separate €3.4 million grant agreement with PrivatBank will complement SME loans. It particularly targets war-affected businesses and those owned or run by veterans, internally displaced people, women, young entrepreneurs, and newly established companies.
How EIB financing reaches you
The EIB’s general product rules (not Ukraine-specific) are a good guide to which route fits:
| Route | Typical use | Thresholds stated by the EIB |
|---|---|---|
| Direct loans (public or private sector) | Large single projects or investment programmes | Loans starting at €25 million (lower in some cases). The EIB typically covers up to 50% of project cost |
| Framework loans (public sector) | Programmes made up of many smaller projects, e.g. municipal investments | Agreed with the public borrower |
| Intermediated loans via banks and leasing companies | SMEs, mid-caps, local authorities | Partner institutions provide amounts up to €12.5 million to SMEs |
| EIF guarantees to banks | More and cheaper SME lending by partner banks | Applied for by the bank, not the SME |
For most Ukrainian SMEs, the practical route is therefore to ask their bank whether it offers loans under an EIB or EIF programme. The lending decision and the credit risk stay with the intermediary bank.
Who is this relevant for?
- Ukrainian SMEs and mid-caps – via partner banks such as those named above.
- Ukrainian public sector (state, municipalities, utilities) – the EIB finances energy, water, transport, schools and hospitals.
- European suppliers and contractors – in EIB-financed projects, the promoter (e.g. a Ukrainian ministry, city or utility) runs the procurement under the EIB’s Guide to Procurement. Outside the EU, the EIB requires the main principles of EU procurement directives, such as open international competition and non-discrimination of tenderers. Following these tenders is one way to take part in reconstruction without borrowing from the EIB yourself.
- Exporters – the EIB reports “facilitating EU exports to Ukraine” among its 2025 activities. The EIF has also provided a guarantee arrangement for Finnvera’s Ukraine export guarantees (see our Finnvera guide).
Practical notes
- Direct EIB loans normally require a total project cost well above €25 million and co-financing for the rest of the cost.
- EIB financing can be blended with EU and donor grants.
- Check the EIB’s project and press pages regularly: new Ukrainian partner-bank agreements are announced several times a year.
Sources
Figures as reported by the sources on the dates shown.
- EIB – EIB Group boosts support for Ukrainian businesses with EU-backed guarantees and grants (12 November 2026)
- EIB – The EIB stands with Ukraine
- EIB – Loans (product overview)
- EIB – Intermediated loans for SMEs, mid-caps and other priorities
- EIB – Project procurement and Guide to Procurement
- European Commission – The Ukraine Facility (timeline)