EIB launches Eastern Partnership Committee, sizes up 3 bn euros support package for Ukraine

Photo: EIB launches Eastern Partnership Committee, sizes up 3 bn euros support package for Ukraine / Economy news

Baku, Azerbaijan, March 19

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The European Investment Bank (EIB) has hosted the inaugural session of the Eastern Partnership Committee, which comprises representatives of the Bank, partner countries, EU member states, the European Commission and the European External Action Service.

At its meeting On March 18, the committee provided guidance on the EIB's investment strategies in partner countries and made a valuable input into the Bank's indicative business plan for the coming years, the EU Neighbourhood Info Centre reported.

Participants were also informed about the EIB's potential for contributing to an EU support package for Ukraine, with long-term loans of up to three billion euros by 2016.

The Committee was launched in the wake of the 2013 Vilnius Eastern Partnership summit, providing the EIB an opportunity to develop a stronger relationship with the countries where it operates.

"The Eastern Partnership is one of the most rapidly growing and dynamic regions in terms of EIB lending. We wish to keep up this momentum," said EIB Vice-President Wilhelm Molterer. Since extending its activity to the Eastern Partnership region in 2007, the EIB has provided a total of 3.2 billion euros in long-term loans in Armenia, Georgia, Moldova and Ukraine.

The EIB will also be extending its operation to Azerbaijan after the entry into force of the Framework agreement of early 2013.

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