European Bank for Reconstruction and Development plans to invest up to €10 billion in Ukraine over next 5 years
Pravda Ukraine
The European Bank for Reconstruction and Development (EBRD) plans to invest up to €10 billion into Ukraine over the next five years.
Source: Forbes Ukraine; Jürgen Rigterink, EBRD vice president, and Matteo Patrone, the bank’s director for Eastern Europe and the Caucasus
According to Jürgen Rigterink and Matteo Patrone, in response to the crisis provoked by the war, the EBRD has focused on five main areas to support Ukraine, partly in the private sector and partly in the public sector. These are energy security, important infrastructure, food security, business support and trade finance.
Rigterink explained that thanks to the bank’s decision to increase its capital by €4 billion, the EBRD can translate this into 4-6 times more investment. Therefore, over the next five years, the bank expects to be able to invest €1.5-2 billion annually in projects in Ukraine.
“We do not believe it would be reasonable for the bank to rely on donor support every time. So we increased our capital. This will allow us to invest €10 billion in Ukraine over the next five years. As soon as peace is achieved, this amount will increase further,” Rigterink said.
Background:
- The European Bank for Reconstruction and Development in 2023 provided Ukraine with a record €2.1 billion.
- EBRD increased its capital to €4 billion to continue supporting Ukraine.
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