Joint press release: New facility to boost support for EU regions most affected by the war in Ukraine
Tomorrow, the Commission will be hosting the launch of a new initiative to provide easier access to lending support to EU Member States bordering Russia, Belarus and Ukraine. This initiative, titled ‘EastInvest Facility’, is at the core of the strategy for the EU’s eastern regions bordering Russia, Belarus and Ukraine adopted last week by the Commission to help these regions tackle the challenges they face in the wake of Russia’s war of aggression against Ukraine.
The EastInvest Facility will be a dedicated financing platform for EU eastern regions, bringing together the European Investment Bank (EIB) Group, the European Bank for Reconstruction and Development, the Nordic Investment Bank, the Council of Europe Development Bank, and national promotional banks from the nine concerned Member States: Finland, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary, Romania, and Bulgaria. It will make it easier for private and public project promoters in EU eastern regions to access loans and advisory support to boost their economies, develop trade and enhance security. The four participating financial institutions estimate that the Facility will provide at least €28 billion in private and public investments in those regions.
The Facility will be launched at a high-level event hosted by Executive Vice-President Rafaelle Fitto, in Brussels, where the EIB and the other international financial institutions and national promotional banks will sign the Facility declaration of intent. The event, which will be opened by the President of the European Commission, Ursula von der Leyen, will bring together the President of the EIB, Nadia Calviño, as well as high-level representatives from the nine concerned countries who will discuss the challenges and opportunities inherent to securing prosperity for Europe’s eastern border regions. Participants include the Prime Ministers of Estonia, Kristen Michal, Lithuania, Inga Ruginienė, Latvia, Evika Siliņa, and Romania, Ilie Bolojan, as well as the President of the European Investment Bank, Nadia Calviño.