EIB and Ukraine’s SBI Sign MoU to Bolster Anti-Corruption Measures for EU-Backed Investments

The MoU establishes a robust framework for cooperation, emphasizing the promotion of ethical practices, transparency, and accountability.

The European Investment Bank (EIB) and Ukraine’s State Bureau of Investigation (SBI) have formalized a partnership through a Memorandum of Understanding (MoU) to strengthen anti-corruption measures and ensure the transparent use of EU-backed financial support in Ukraine. The agreement, signed at the EIB headquarters in Luxembourg by EIB Inspector General Monique Koning, General Counsel José Maria Fernández Martin, and SBI Deputy Director Oleksandr Sokolov, marks a pivotal step in safeguarding EU investments in Ukraine’s recovery efforts.

The MoU establishes a robust framework for cooperation, emphasizing the promotion of ethical practices, transparency, and accountability. It facilitates information sharing and joint investigations to ensure EIB-funded projects directly benefit Ukraine's development while preventing potential misuse of resources.

EIB Vice-President Teresa Czerwińska emphasized the significance of this partnership, stating:

“The EIB has disbursed over €2 billion to Ukraine since February 2022 to address urgent needs and plans to provide at least €2 billion more in the coming years for critical public and private sector projects. This collaboration with the SBI ensures these funds are used effectively, safeguarding against fraud and corruption.”

A Shared Commitment to Anti-Corruption

The signing coincides with International Anti-Corruption Day, underscoring the shared commitment of both institutions to integrity in public finance management. EIB Inspector General Monique Koning highlighted:

“This agreement reinforces our zero-tolerance approach to fraud and corruption. Together with the SBI, we aim to swiftly identify and mitigate risks, ensuring EU bank funds are used to rebuild critical infrastructure and support Ukrainian communities in recovery.”

Role of the SBI in Safeguarding Investments

SBI Deputy Director Oleksandr Sokolov welcomed the MoU, stating:

“This partnership ensures a favorable investment climate, protects investors' rights, and prevents misuse of EIB funds. The SBI remains committed to supporting Ukraine’s infrastructure restoration and economic development under martial law.”

Expanding Anti-Corruption Networks

The EIB already collaborates with Ukrainian law enforcement agencies, including the National Anti-Corruption Bureau of Ukraine (NABU), the Economic Security Bureau of Ukraine (ESBU), and the Prosecutor General’s Office. The addition of the SBI to this network further enhances the EIB’s ability to oversee and protect EU-backed investments in Ukraine.

Zero-Tolerance Policy and Reporting Mechanisms

Reaffirming its zero-tolerance stance on fraud and corruption, the EIB encouraged individuals to report breaches related to its projects through a dedicated reporting platform. The EIB Investigations Division actively cooperates with national and international authorities to maintain transparency and accountability.

Supporting Ukraine’s Recovery and Growth

Since the onset of Russia’s invasion in February 2022, the EIB’s financial support has been vital in addressing Ukraine’s urgent needs. This MoU ensures that investments contribute effectively to rebuilding critical infrastructure, fostering economic development, and maintaining trust in EU-backed financial initiatives.

By fortifying anti-corruption safeguards, the partnership between the EIB and SBI is poised to play a pivotal role in advancing Ukraine’s recovery while promoting international best practices in public financial management.