Based on the results of the meeting the Economic Security Bureau of Ukraine and the European Investment Bank agreed to create a group to conduct joint investigations and to support the institutional development of the ESBU from the EIB side.

In addition, the exchange of information, experience and cooperation in investigations were the main topics for discussion during the meeting of the Director of the ESBU Vadym Melnyk, acting EIB Inspector General Bernard Patrick O'Donnell and representatives of the EIB Investigations Department.

Cooperation in this direction is especially relevant, because thanks to international partners, Ukraine receives much-needed financial and technical support during the war. Even more support is expected for the recovery of Ukraine and this assistance must be protected.

At the beginning of the meeting, Vadym Melnyk spoke about the results of analytical work on the prevention of unjustified use and waste of public funds. Thus, for 2022, the ESBU analysts anticipated the waste of UAH 270 million of budget funds.

According to Alex Louis E. Boone, the EIB Investigations Department is currently investigating 7 cases, with 3 more at the stage of fact-checking and preparation of materials. Most of them are related to public procurement. And this is one of the real directions for further cooperation.

"There is a lot in common in the work of the ESBU and the Investigations Department of the EIB. Work organization models are based on a risk-oriented approach and analytics. But the EIB has more powerful resources, which the ESBU currently lacks. This applies to both information and software and communication with other European institutions.

Strengthening control over the use of international partners' funds will allow them to be effectively used for the reconstruction of Ukraine and will help attract even more international investors on the basis of trust and transparency.

Interaction in these directions and parallel cooperation in relation to existing investigations will be a significant contribution to our economic security and will definitely improve the image of Ukraine in the eyes of our international partners," said Director of the ESBU Vadym Melnyk.

For reference: European Investment Bank (EIB) is a financial institution of the European Union, which is responsible for the targeted use of funds provided by it and ensures that operations and activities financed by it do not cause cases of fraud, corruption, money laundering , financing of terrorism.

The EIB acts as a creditor and the largest borrower of monetary resources on the international financial capital markets. The areas of use of loans are primarily energy, transport and telecommunications.

In December 2019, the EIB opened a new office in Kyiv. As of December 31, 2022, the total amount of financial resources provided to the EIB in Ukraine, both in the public and private sectors, is more than 7.5 billion euros.

The EIB's Investigation Department also cooperates with the European Anti-Fraud Office (OLAF).