EIB lends Ukraine €60 million to upgrade western border crossings
The European Investment Bank Group is lending Ukraine €60 million to modernise border crossings with the EU and Moldova, including terminals, access roads and customs equipment. The EIB says the upgrades are intended to increase capacity, reduce trade costs and improve the movement of goods and people; the project is the first under its Security and Connectivity Initiative.
Bottom line — The €60 million loan is expected to be supplemented by a €6 million EU grant and €2.5 million in technical assistance.
Go deeper 5
-
The European Commission is guaranteeing the loan through the Ukraine Investment Framework, according to the EIB.
-
The crossings are on roads forming part of the EU’s priority Trans-European Transport Network, the EIB said.
-
Ukraine’s State Agency for Restoration and Infrastructure Development will implement the project.
-
The EIB says the initiative aims to accelerate Ukrainian investment in transport, energy and digital infrastructure.
-
The EIB’s financing for Ukraine has exceeded €4.5 billion since Russia’s full-scale invasion in 2022.