OREANDA-NEWS. October 10, 2008. The Cabinet of Ministers described as promising Ukraine's cooperation with the European Investment Bank (EIB), one of the largest international financial institutes and a major financial establishment of the European Union. Ukrainian Finance Minister Viktor Pynzenyk was speaking about this during a meeting between other ministry experts and EIB representatives.

"The loans of the European Investment Bank are long-term and cheap, while the EIB's readiness to cooperate with Ukraine is evidence of a high level of trust in our country and the recognition of its economic development," First Deputy Finance Minister Volodymyr Lytvyn said.

Among other promising areas of cooperation between Ukraine and the bank are transport, telecommunications, energy infrastructure, and environmental protection.

According to the Ukrainian Finance Ministry, two projects on the reconstruction of the Kyiv-Chop highway and the construction of a 750 kW overhead transmission line running from Rivne Nuclear Power Plant to the Kyivska substation are being currently drafted. They are to be implemented with the participation of the European Bank for Reconstruction and Development.