Ukraine Investment Framework/UIF offers financing in the form of guarantees, blended finance and funds from the EU’s financial instruments. At the same time, UIF promotes the provision of technical assistance for the implementation of actions funded. UIF has been established within the framework Pillar II of the Ukraine Facility (under which an amount of grants up to 6.97 billion Euros is envisaged), with a view to attracting public and private investments in Ukraine for the country’s recovery and reconstruction. This investment is to be carried out by the Ukrainian Authorities, private sector companies, municipalities, state-owned enterprises or other types of investors.
UIF covers the priorities set out at the Ukraine Plan and supports its implementation. Ukraine Plan, which was put forward by the Ukrainian Government under Pillar I of the Ukraine Facility, defines Ukraine’s reform and investment agenda, affecting the overall context of economic and fiscal policy.
Implementing actors comprise a broad range of European development banks and financing institutes, which, in collaboration with UIF, can foster the conditions that will permit the Ukrainian Government to manage public investment in a strategic and optimized way, with legal certainty and a healthy business climate.
The UIF’s Board is convened based on Comitology rules and offers strategic and operational guidance to support the European Commission in taking decisions on various investment-related issues, including risk assessment, selection of methods of financial support, financial products design and list of eligible sectors. The Boardalso offers its opinion regarding the use of the Ukraine Guarantee and the financial instruments available.
Τhe Board’s rules of procedure are akin to those of other EU external action financing instruments (please refer to EFSD+), yet with some specificities as regards the speed of decision-making and procedural flexibility, considering the fact that the beneficiary country is at war.
Finally, eleven (11) investment programmes have been approved so far, submittef by the EIB, EBRD, the World Bank’s IFC, the German development bank (KfW) and the Polish development Bank (BGK). IFI representatives have invited private sector investors in member states, wishing to be engaged in Ukraine, to contact the competent departments within their Banks, so as to explore avenues of cooperation as regards access to financing and de-risking investment.