Press Release
13 July 2023

Belgium contributes €6 million to the trust fund for Ukraine by the EIB

The European Investment Bank (EIB) and the ministers of 16 EU countries today signed expressions of intent for the EIB for Ukraine Fund in support of Ukraine’s agenda for recovery and reconstruction. Announced in spring 2023 as a part of a larger EU for Ukraine initiative, the EIB’s EU4U Fund will help rapidly scale up support for Ukraine’s most urgent infrastructure needs and sustain the economy. Belgium pledges €6 million in support of the fund.

The member countries announcing their intention to contribute to the Fund include Belgium (€6 million), France (€100 million), Ireland (€7 million), Italy (€100 million), Latvia (€7 million), Lithuania (€10 million), Luxembourg (€1.3 million), Poland (€25 million), Slovakia (€5 million), Spain (up to €70 million), the Netherlands (€52 million). In addition, a number of Member States confirmed their support and their intention to contribute to the Fund with the amounts to be finalised. These include Croatia, Cyprus, Denmark, Estonia and Greece. The size of the Fund is expected to grow further with future commitments.

The difference in the figures amongst Member States is highly depending on whether a Member State is putting forward cash contributions, or only contributing with guarantees.

The Fund will enable the EU bank to sustain its support for Ukraine and will serve as a temporary bridge solution until longer-term EU measures become available.

The Fund will facilitate deployment of both public and private sector projects, with the main focus on municipal infrastructure such as schools and hospitals, transport networks, water and wastewater treatment facilities, digital and cybersecurity capability, and improved access to finance for Ukrainian entrepreneurs.

The EIB offered immediate relief to Ukraine right after the outbreak of the war, disbursing €1.7 billion of financing in 2022 to help finance emergency repairs to the country’s infrastructure ravaged by Russian bombing. The EU Bank also provided a €4 billion credit line to support the integration of refugees from Ukraine in EU countries. Through the EU for Ukraine initiative and its Fund, the Bank remains committed to stepping up its activities in Ukraine, in line with the mandate given by EU leaders and in close cooperation with the European Commission, European Parliament, EU Member States and international partners.

“Belgium stands ready to contribute to the EU for Ukraine Initiative. Reconstruction of Ukraine requires big investment efforts, combining both financial support and technical sector assistance, from both the public and private sector. Therefore, since the first days of the war, the EIB has been one the of the main partners standing side by side with Ukraine. This new EU for Ukraine Initiative marks an important further step in our support for the Ukrainian people.” - Vincent Van Peteghem, Deputy Prime Minister and Minister of Finance, responsible for the Coordination of Fraud Prevention and the National Lottery

More information:

  • Initial pledges to the Fund from Belgium, France, Ireland, Italy, Latvia, Lithuania, Luxembourg, Poland, Slovakia, Spain and the Netherlands total €383.3 million.
  • Croatia, Cyprus, Denmark, Estonia and Greece also announced contributions to the Fund with the amounts to be finalised.
  • The size of the Fund is expected to grow further with future commitments.