European Investment Bank to Invest One Billion Euro Into Ukraine's Infrastructure and Energy Projects

By Worldwide News Ukraine, PRNE
Monday, March 28, 2011

KYIV, Ukraine, March 29, 2011 - The European Investment Bank (EIB) opened its Resident
Representation in Ukraine, the first EIB representation in the region of the
Eastern Partner Countries. "So far we have nine investment projects at
different stages of completion. These projects involve development of
infrastructure, energy efficiency, and pipelines in Ukraine," announced the
EIB Vice President Eva Srejber at the opening ceremony, according to
Ukrainian News Agency.

Eva Srejber highlighted that loans for projects under
appraisal or pending contract negotiations are worth over one billion euros.
"The main task of the EIB Resident Representation in Kyiv is to strengthen
relations with Ukraine by supporting EU policy and to extend loans to
projects of common interest. It will work towards further developing contacts
with Ukraine's government, regions and municipalities and strengthen
relations with public promoters, partner banks and other IFIs as well as
representatives of the private sector," commented Eva Srejber.

Cooperation between Ukraine and the bank has been going on for
five years. Since 2005, the bank has provided Ukraine with loans totaling EUR
465.5 million
in the roads and energy sectors, the upgrading of water
infrastructure and - indirectly through commercial banks - the projects of
SMEs, according to the Web site of the EIB. This year Ukraine hopes to
strengthen the cooperation by signing a number of international agreements
aimed at implementation of large-scale infrastructure projects, according to
the Web site of the Ukrainian government.

The first-ever EIB operation in Ukraine was on rehabilitation
of major highway between Ukraine and the European Union, linking Ukraine's
capital Kyiv to the neighboring EU Member-States of Hungary, Slovakia, and
Poland. Other projects include rehabilitation and modernization of water
supply and wastewater collection in Mykolayiv Vodokanal (Southern Ukraine),
construction of electric power transmission line between Rivne and Kyiv, etc.

The European Union's Bank, EIB, finances projects in Ukraine
according to EU Council and European Parliament mandate for the Eastern
Partner Countries estimated at EUR 3.7 billion for the period of 2007-2013.
The EIB also has a facility for the Eastern Partners (Ukraine, Moldova,
Georgia, Armenia, Azerbaijan and Russia) of an amount up to EUR 1.5 billion.

For more information, please contact Maryna Khorunzha
+380443324784 news at, Project Manager at Worldwide News Ukraine

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