EBRD to invest up to EUR 3 billion in Ukraine over next two years

24 October 2022, 07:57 PM
The head of the EBRD said that the bank's investments in Ukraine this year exceeded 1 billion euros (Photo:Odile Renault-Basso via Twitter)

The head of the EBRD said that the bank's investments in Ukraine this year exceeded 1 billion euros (Photo:Odile Renault-Basso via Twitter)

The European Bank for Reconstruction and Development (EBRD) will invest up to EUR 3 billion in Ukraine in 2022-2023 amidst Ukraine’s ongoing defense against Russian aggression, EBRD President Odile Renaud-Basso wrote on Twitter on Oct. 21.

The official said that she had met Ukrainian President Volodymyr Zelenskyy in Kyiv to express solidarity and admiration for the courage and resilience of Ukrainians.

“With well over EUR 1 billion in investment this year, the EBRD is financing Ukraine’s real economy in the face of Russia’s aggression,” Renaud-Basso tweeted.

Video of day

“I told President Zelenskyy that our commitment is for the long term and we will invest up to EUR 3 billion in 2022-2023 to support the economy, the private sector and the urgent reconstruction of vital infrastructure.”

In turn, Zelenskyy noted that the visit of the EBRD President is an important signal of support for Ukraine.

“Today our cooperation is more relevant than ever, because now due to the large amount of destruction caused by missile strikes and kamikaze drone attacks, we need to work on the rapid recovery of our country,” he said.

Earlier the EBRD downgraded the growth forecast for Ukraine’s economy in 2023 from 25% to 8%, against the calculations made in May.

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