In response to Russia’s invasion of Ukraine, the London-based financial institution, which was established in 1991 to finance the transformation of the economies of Central and Eastern Europe and the former Soviet Union region, has committed to a special investment program of €3 billion for Ukraine by the end of 2023.
The European Bank for Reconstruction and Development announced in its report on Wednesday that it is on track to achieve this goal: it has so far allocated 1.7 billion euros from the framework for the Ukrainian economy and mobilized another 200 million euros in financing with the participation of partner banks. .
EBRD shareholders and donors, who share the EBRD’s investment risks, have been exceptionally supportive of this – the London-based financial institution said in its presentation on Wednesday.
The payments can be used primarily for the operation of basic infrastructure facilities, energy conservation and food supply security, and for investments to support trade and the private sector.
The financing raised and disbursed for Ukraine has so far exceeded ten percent of the EBRD’s annual turnover.
Among the main elements of the financing program, the Bank mentions the additional disbursement of emergency liquidity in the amount of 150 million euros for both the Ukrainian Railways and the Ukrainian Energy Services Company.
In addition to this benefit, Ukrenergo has received an additional €370m financing package – a €300m loan from the European Bank for Reconstruction and Development and a €70m donation – for emergency repair work for damage caused by Russian attacks on civilian infrastructure. The Dutch government added 70 million euros to support the European Bank for Reconstruction and Development.
