MOSCOW, October 23 The European Bank for Reconstruction and Development (EBRD) has allocated to Ukraine all the funds promised for the period 2022-2023 in the amount of 3 billion euros , says a press release published on Monday on the bank’s website.
Previously, the EBRD pledged to allocate up to 3 billion euros to Kiev in 2022-2023.
«The European Bank for Reconstruction and Development (EBRD) has achieved the goal of placing financing in the amount of 3 billion euros in the real sector of the Ukrainian economy in 2022-2023,» the document says.
The bank called itself “the largest institutional investor in Ukraine” and stated its intention to continue to support the country’s economy for as long as necessary, since “the needs in Ukraine are enormous.”
The allocated funds were used to ensure energy and food security, develop trade, improve critical infrastructure, including transport links, as well as support neighboring countries, the press release says.
To continue supporting the Ukrainian economy, the EBRD Board Chairs agreed to work on a capital increase of between 3 and 5 billion euros by the end of the year. If such a decision is approved, the bank will have additional funds to invest in Ukraine, the document notes.
At the end of May it was reported that that the bank plans to provide Kiev with another 1.5 billion euros in 2024.
The EBRD, the largest international institution headquartered in London, created in 1991 to develop market economies in countries in transition, is today conducting operations in various sectors of the economy and business in 36 countries of Central and Eastern Europe, the CIS, Central Asia and North Africa. Since its creation, it has invested over 180 billion euros in more than 6.6 thousand different projects.