Today, the European Commission helped to bring together more than 5,000 representatives from Ukrainian and international businesses, government institutions, financial organisations and international partners at the EU-Ukraine Investment Conference, held during the ReBuild Ukraine Expo in Warsaw.
Organised in close cooperation with Ukraine’s Ministry of Economy and Environment, the conference marks a major step in the EU’s efforts to mobilise private sector investment for Ukraine’s recovery, reconstruction and modernisation.
The conference also saw record interest in its matchmaking programme, which for the first time included business-to-government meeting opportunities alongside business-to-business contacts.
Marta Kos, Commissioner for Enlargement, said: “The EU is stepping up its support to help small businesses continue operating, investing and contributing to Ukraine’s recovery. We are paying particular attention to businesses directly affected by the war and those run by or employing war veterans. With €1.2 billion in EU support for micro, small and medium-sized enterprises since 2024, aiming to mobilise more than €7.4 billion in new investment, we are helping Ukrainian businesses keep the economy of today moving while creating opportunities for a prosperous tomorrow.”
Strengthening SME Support
Ukraine’s small and medium-sized enterprises are under significant pressure as Russian attacks on infrastructure, disrupted logistics and supply chains, and the wider economic impact of the war continue to threaten their survival.
To help businesses withstand these challenges, the European Commission and the International Finance Corporation (IFC) have signed a new programme to expand access to finance for SMEs in Ukraine. The initiative comes at a critical time, as intensified Russian attacks since the summer have further increased pressure on the private sector.
Backed by €125 million in EU guarantees and €21.25 million in grants, the MSME+ Growth Catalyst programme is expected to mobilise more than €600 million in new investment. It will help Ukrainian businesses stay operational, safeguard jobs and support the country’s economic recovery targeting especially vulnerable businesses, including those directly affected by the war and firms run by or employing war veterans.
In total, EU support for SMEs since 2024 now stands at €1.2 billion, with the potential to unlock more than €7.4 billion in investment.
New private investment programmes for energy, strategic industries and private equity
On 4 November 2026, the Steering Board of the Ukraine Investment Framework (UIF) held its eighth meeting, during which the European Commission welcomed the decision by EU Member States to approve a new package of investment programmes designed to mobilise private financing for Ukraine.
Together, these new measures amount to €376 million in EU guarantees and blending, with the potential to generate €1.4 billion in fresh investment – a strong signal of the EU’s and its partners’ steadfast commitment to Ukraine’s recovery, resilience and future prosperity. By backing businesses, unlocking investment and supporting key sectors such as energy and strategic industries, the EU is helping Ukraine rebuild today while laying the foundations for a stronger, more modern economy for the future.
Supporting Ukraine’s defence industry and EU-Ukraine value chains
Two new programmes under the UIF, to be implemented by Impact Fund Denmark and Slovakia’s Eximbanka, will support the development of energy projects and Ukraine’s strategic industries, with a particular focus on dual-use technologies.
These investments will help strengthen Ukraine’s industrial base, bolster energy security and support the country’s gradual integration into EU supply chains, while contributing to long-term economic recovery.
Strengthening support for energy projects
Ukraine’s energy system remains under constant attack, creating an urgent need for more resilient and decentralised energy capacity, including distributed generation. However, war-related risks, market uncertainty and the high cost of protecting critical assets have created financing gaps that cannot be bridged on commercial terms alone.
To address this, the EU is topping up the successful EU-EBRD energy programme HI-BAR, with additional support from Norway. This will expand assistance to Ukraine’s energy sector at a time when sustained Russian attacks continue to damage vital infrastructure.
Supporting equity investment
The EU is also strengthening equity financing through a top-up to the EU-IFC High Impact Equity programme, with additional support from the United Kingdom.
UIF guarantees will support quasi-equity and equity investments through venture capital and private equity funds, as well as direct investments. At a time of continued instability, this will help provide a flexible source of capital, help sustain market activity and attract further investors.
Background
The EU’s Ukraine Investment Framework is an integral pillar of the €50 billion Ukraine Facility designed to attract public and private investments for the recovery and reconstruction of Ukraine and support its path towards EU accession. It is equipped with financial instruments totalling €9.6 billion, in guarantees and blended finance.
To date, following the last Steering Board meeting on 4 November 2026, the UIF has allocated €8.9 billion, representing about 90% of its total capacity. These allocations are expected to mobilise €27.2 billion in investments.
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