Investment projects worth over EUR 345M being implemented in Ukraine with support of KfW

Nine investment projects worth more than EUR 345 million are being implemented in Ukraine with the support of Germany’s state-owned investment and development bank KfW.

The relevant statement was made by the Ukrainian Finance Ministry, following a meeting between Ukrainian Finance Deputy Minister Olga Zykova and KfW Director Eastern Europe, Caucasus and Central Asia Veronica Garcia del Arco.

Currently, with the support of KfW, nine investment projects are being implemented in Ukraine, totaling more than EUR 345 million (including EUR 33.4 million worth of grants).

“Russia’s full-scale war causes devastating damage to Ukraine in all areas. With this in mind, cooperation with KfW, namely in supporting the stable operation of Ukraine’s energy sector, recovery and reconstruction initiatives, and business support, is crucial. In 2023, the investment sample under the existing credit projects was the largest for all years of cooperation,” Zykova noted.

The parties discussed preparations for further cooperation, namely as part of the Ukraine Recovery Conference 2024, which will be held in Berlin in June 2024.

A reminder that Germany’s state-owned investment and development bank KfW is providing a grant worth EUR 45 million for Ukrenergo National Power Company to increase the efficiency of the power transmission system.

Photo inside text: Ukrainian Finance Ministry