EBRD commits up to €3 billion to Ukraine

Published in World
Monday, 24 October 2022 15:09

The European Bank for Reconstruction and Development (EBRD) will commit up to €3 billion over 2022-2023 to help Ukraine’s businesses and economy keep functioning.  

On a visit to Kyiv, EBRD President Odile Renaud-Basso told Ukrainian President Volodymyr Zelenskyy of the Bank’s determination to support Ukraine while it defends itself against Russia’s aggression. 

Since the invasion began in February, the EBRD has committed more than €1 billion, and aims to triple that figure by the end of 2023. Its primary focus will be to support the “real” economy – maintaining energy and food security, restoring rail infrastructure, and supporting the pharmaceutical industry.

EBRD investment has already been made into Ukraine’s electricity company Ukrenergo, as well as providing up to €500m liquidity support for ‘Naftogaz’, the country’s main gas supplier. Discussions are also underway to scale up funding for urgent repairs of the electricity grid and to support municipal authorities in Kyiv, Lviv and Dnipro, says the EBRD.

EBRD investments are backed by donors or guarantors from EU and G7 countries, including the US. Norway recently pledged  €200m in support. 

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Press release

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