"We are beginning an ambitious program to support Ukraine,” Baranyai said.

“We’re planning to allocate to Ukraine about EUR 3 billion in credit over the next three years. These funds will be directed not only to state authorities and municipalities, but also to support the private business," he said.

In addition, Baranyai said that by the end of the year, the EIB intended to provide Ukraine a loan of EUR 1 billion.

The EIB signed an agreement with the Ukrainian government on December 1 for a EUR 150 million credit line to Ukraine for the modernization of the Pomary-Uzhhorod gas pipeline, a project co-financed with the EBRD and Ukrgasbank.

The loan for the modernization of the Ukrainian public joint stock company Myronivskiy Hliboprodukt will amount to EUR 85 million.