Despite the ongoing war, business and investment in Ukraine continues. The situation is complex and ever-changing, but Dutch companies are actively contributing to the country’s reconstruction—with support from the Dutch government. Invest International plays a role in financing exports and investments in sectors such as agriculture, energy, healthcare, and infrastructure.
Support for Ukraine
The Netherlands is providing Ukraine with a comprehensive support package totaling €17.6 billion, of which €6 billion is allocated to non-military aid. This includes humanitarian assistance, reconstruction efforts, medical supplies, and goods. Through Invest International, Dutch companies can access financing instruments such as investment loans, export finance, and bank guarantees.
While commercial banks and financiers are often unable to bear the high risks of operating in a war zone, collaboration with Invest International—often alongside Atradius Dutch State Business (DSB)—makes it possible. Atradius DSB provides credit insurance to mitigate transaction risks, enabling Dutch companies to continue operations in Ukraine.
“Invest International supports Dutch companies active in Ukraine. By ensuring business continuity, we contribute to the local economy and stimulate reconstruction—even during wartime,” explain Jasper Klapwijk (Sector Lead Health) and Miriam Valstar (Investment Manager). “We do this through programs we implement on behalf of the Ministry of Foreign Affairs, such as the Dutch Good Growth Fund (DGGF). Export financing for SMEs is also available.”
€50 million in financing
Financing projects in a conflict zone is no small feat. It requires determination, a robust financial framework, and collaboration across numerous “Rebuild Ukraine” initiatives. Invest International works closely with the World Bank, European Investment Bank (EIB), European Union, embassies, ministries, and the Netherlands Enterprise Agency (RVO) to fund and implement infrastructure projects.
“It remains challenging, especially with regard to Environmental, Social, and Governance (ESG) standards,” says Klapwijk. “We have to consider safety requirements for workers—like the availability of bomb shelters—even though we can’t always verify conditions on the ground ourselves. Still, thanks to our partner network, we’re able to take calculated risks and make a real impact.”
Our goal is to help rebuild a sustainable, digital, and future-proof healthcare system in Ukraine.
Examples of companies
Invest International currently has over €50 million in outstanding financing in Ukraine. This includes:
Ukrag:
A dairy and livestock farm southwest of Kyiv. A loan is enabling the company to expand operations and strengthen local food security.
Bontrup:
Dutch family business operating in the Sumy region near the Russian border. Bontrup grows corn, wheat, rapeseed, and sunflowers, employing around 400 people. Despite recent missile strikes on their land, they continue operations—supporting morale, infrastructure recovery, and sustainable agriculture.
Kovalska Group:
One of Ukraine’s largest construction materials manufacturers and project developers. A DGGF loan enabled the import of sustainable aerated concrete (AAC) production technology from Aircrete Europe (Oldenzaal, NL), contributing to both Ukraine’s recovery and Dutch innovation.
Healthcare
Beyond private sector financing, Invest International also supports public infrastructure projects in partnership with the Dutch and Ukrainian governments. In May, Jasper Klapwijk and Deputy Minister of Health Edem Adamamov signed a Memorandum of Cooperation to accelerate healthcare reconstruction.
“Our goal is to help rebuild a sustainable, digital, and future-proof healthcare system in Ukraine,” says Klapwijk. “We’re exploring how Dutch technology and expertise—from medical equipment to sustainable lighting, modular construction, and renewable energy—can support this transformation. Dutch companies are ready to play a key role.”
The article on investing in Ukraine and our financing was published in Dutch in globe magazine of industry organisation Evofenedex, edition June 2025 (in Dutch).
