EBRD will continue to provide €1.5 billion a year to Ukraine until war ends
Pravda Ukraine
Since the start of the full-scale invasion of Ukraine, the European Bank for Reconstruction and Development (EBRD) has sponsored projects in all sectors of the Ukrainian economy totaling €4 billion, and this support will continue until there is no more military action there. Following the conflict, funds will be raised to help rebuild the country.
Source: Associate Director, Senior Agribusiness Banker of the EBRD Anna Lebedynets, at the Grain Storage Forum conference in Kyiv, as reported by Interfax-Ukraine
Quote: “Since the commencement of the full-scale invasion, we have sponsored projects worth €4 billion, I mean all sectors of the economy. There is a belief that we should assist the economy in roughly the same proportion during the conflict, till the situation changes. [The sum is] approximately €1.5 billion annually,” said Lebedynets.
She added that after the conflict, businesses will require more financing due to a higher willingness to invest in their expansion, as well as a need to reconstruct the destroyed infrastructure at a faster pace.
The bank’s agricultural clients frequently request the development of crop and livestock output, as well as an active interest in bioenergy, the EBRD spokesman said.
“Companies seriously consider and calculate the development of biogas and bioethanol. We have previously seen examples of funded projects in Ukraine. In addition, many people consider how they might process more in Ukraine and bring value to the country,” Lebedynets added.
She said the bank has already devised a number of procedures to cover military risks for enterprises and investments.
Starting from late 2024, the EBRD will be able to offer a method for insuring objects that are held or moved within Ukraine, where the dangers are significantly larger than outside the country at war.
“This is not a simple process. I think that by the end of the year it should start working,” she concluded.
Background:
The European Bank for Reconstruction and Development (EBRD) intends to invest up to €10 billion in Ukraine over the next five years.
Ekonomichna Pravda