The EU Ukraine Facility and the Ukraine Investment Framework (UIF): a guide for companies

The Ukraine Facility is the European Union’s main financing instrument for Ukraine’s recovery, reconstruction and modernisation for 2024–2027. It allows the EU to provide up to €50 billion of support over that period. For companies, the most relevant part is its investment pillar, the Ukraine Investment Framework (UIF) – but it is important to understand that companies do not apply to the UIF directly.

The three pillars

According to the European Commission, the Facility is organised in three pillars:

By 2 October 2026 the Commission reported that total EU support already provided under the Ukraine Plan exceeded €32 billion.

How the Ukraine Investment Framework works

The UIF’s capacity is €9.6 billion: €7.8 billion of guarantee cover and €1.8 billion of blended financing (grants). (When it was set up in April 2024 the package was €9.3 billion; the Commission’s current pages give €9.6 billion.)

The key point for businesses: the UIF is implemented in indirect management by eligible, “pillar-assessed” financial institutions. The Commission names among them:

• the European Investment Bank (EIB) Group,
• multilateral institutions such as the EBRD, the International Finance Corporation (IFC) and the Council of Europe Development Bank,
• European national development banks such as Poland’s BGK, Germany’s KfW and France’s AFD.

These institutions propose investment programmes; the UIF Steering Board (the Commission and EU Member States, with Ukraine, the European Parliament, the Verkhovna Rada and Norway as observers) approves them. The EU guarantee or grant then sits behind the institution’s own loans, guarantees or equity. Finland’s export credit agency Finnvera is one example of a national institution that has signed a UIF guarantee agreement (see our Finnvera guide).

In practice: a company reaches UIF money by applying for a loan, guarantee or investment from one of the partner institutions – or from a Ukrainian bank that has a UIF-backed programme with them – not by sending an application to the Commission.

Priority sectors

The UIF Strategic Orientations endorsed in April 2024 focus on: energy; SMEs and access to finance; human capital; transport; agri-food; digital transformation; green transition; and strategic investment and industries, including dual-use goods.

The Ukraine Facility Regulation also sets targets: at least 20% of UIF funding together with Ukraine Plan investments must go to green investment, and at least 15% of the guarantee capacity is intended to support micro, small and medium-sized enterprises.

Where the money stands (changes frequently)

• On 26 June 2026, at the Ukraine Recovery Conference in Gdańsk, the Commission signed agreements worth over €1.1 billion, bringing UIF commitments to €8.5 billion.
• After the Steering Board meeting of 4 November 2026, the Commission reported €8.9 billion allocated – about 90% of total capacity – expected to mobilise €27.2 billion in investment. That meeting approved a new package of €376 million in guarantees and blending for energy, strategic industries and private equity.
• On 12 November 2026 the Commission reported that EU support for SMEs since 2024 stands at €1.2 billion, including the MSME+ Growth Catalyst programme (€125 million in guarantees and €21.25 million in grants).

With roughly 90% of capacity allocated by November 2026, the remaining room under the current framework is limited, and the Facility’s period runs to the end of 2027. Watch for decisions on what follows.

Calls for Expressions of Interest – a direct door for larger projects

The Commission has run Calls for Expressions of Interest to build a pipeline of private investments in sectors such as energy, critical raw materials, manufacturing, digital and transport. Under the first call, open to EU/EEA businesses, 113 investment projects were submitted; positively evaluated projects were matched with UIF implementing partners.

A subsequent call announced at the EU–Ukraine Business Summit 2026 is open to both European and Ukrainian businesses on a rolling basis, without a predefined deadline. The Commission invites businesses seeking large-scale investment financing (production capacity, expansion, equipment) to follow its events or contact the UIF team (contact address on the official UIF page).

Who is this relevant for?

• Ukrainian SMEs – mainly through Ukrainian partner banks offering UIF-backed loans (e.g. EBRD and EIB Group programmes).
• Larger EU/EEA and Ukrainian investors – through direct financing from the EIB, EBRD, IFC or national development banks, and through the Calls for Expressions of Interest.
• Exporters – through national export credit agencies with UIF guarantee agreements, such as Finnvera.
• Municipalities and public utilities – through public-sector programmes of the partner institutions (for example Nefco’s municipal programme, see our Nefco guide).

Checklist before you approach a partner institution

1. Identify which partner institution and programme fits your sector, ticket size and whether you are public or private.
2. Check how your project supports the Ukraine Plan priorities and the UIF sectors listed above.
3. Prepare bankable documentation: business plan, financial model, ownership information and environmental and social information – partner banks run their own due diligence.
4. Expect the partner institution’s own criteria (size thresholds, security, co-financing) to apply on top of EU priorities.