This year, the EBRD provided Ukraine with EUR 1.2 billion in aid and intends to continue funding

The European Bank for Reconstruction and Development has provided another €1.2 billion in support to Ukraine since the beginning of this year, in addition to funding of €1.7 billion last year, and intends to maintain a high level of support.

This was announced by the president of the bank, Odile Renaud-Basso, during a meeting with President Volodymyr Zelenskyi, according to the EBRD release.

“Passing this milestone confirms the EBRD’s unwavering commitment to supporting your country. Our partnership is also a testament to the resilience and potential of Ukraine’s economy, its financial and business sectors, as well as the courage of its entrepreneurs and people,” Renault-Basso said.

The EBRD reminded that they have undertaken to direct at least 3 billion euros of financing to the real economy of Ukraine in 2022-2023 and to play a key role in the future recovery.

Advertising:

The bank focuses on supporting energy and food security, restoring infrastructure, providing trade finance and supporting the private sector.

In addition to negotiations with President Zelenskyi and Prime Minister Denys Shmygal, the EBRD leader met with government officials and the head of the National Bank Andriy Pyshny. And also held meetings with clients and representatives of the banking and business community.

The bank’s initial efforts focused on providing emergency liquidity to the real economy, and it is now increasingly focusing on providing financing for emergency repairs and rebuilding of infrastructure attacked by Russia.

Advertising:

At the annual meeting of the EBRD in Samarkand in 2023, the organization’s leaders recognized that in order for the bank to continue its work in Ukraine during wartime and during the recovery period, additional support from shareholders will be needed.

The management and board of directors of the EBRD are preparing a proposal to increase the paid-up capital for a final decision by the end of 2023.