Ukraine is grateful to the European Bank for Reconstruction and Development for its quick response to Ukraine’s needs since the first days of the russian invasion and expects the EBRD to remain the largest institutional investor in the country. This was stated by the First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko during a meeting with President of the EBRD Odile Renaud-Basso in Davos, where the World Economic Forum started on January 16.

“The EBRD has been and remains a reliable business partner of Ukraine for many years, providing regular investment, technical and advisory assistance.

We are grateful for the announcement of an initial EUR 2 billion support package to help, in particular, citizens and companies affected by war in Ukraine. We are grateful for the assistance in overcoming the energy crisis, in particular the financial support of EUR 370 million for a Ukrainian electricity company, Ukrenergo, from the EBRD and the Netherlands. These funds are important for rapid emergency repairs of the damage caused by russia’s strikes on the energy infrastructure and for maintaining stability of the country’s energy system in winter.

The EBRD’s readiness to invest EUR 3 billion in 2022-23 to address problems of the Ukrainian economy affected by the russian invasion is extremely valuable and important,” said Yuliia Svyrydenko.

According to the First Deputy Prime Minister – Minister of Economy of Ukraine, the Ukrainian Government relies on development of four priority sectors that will drive the recovery of the Ukrainian economy:

• military-tech (high-tech weapons);
• metallurgy, mining, and machine building;
• agriculture and food industry;
• IT industry.

According to Yuliia Svyrydenko, investments in priority sectors and continued reforms aimed at creating a business-friendly environment will ensure recovery and further development of the Ukrainian economy.

In turn, Odile Renaud-Basso noted that the EBRD was ready to further assist Ukraine by implementing projects that have already been launched and introducing new ones.

During the meeting, the parties also discussed, in particular, the launch of a project of assistance to Ukrainian business (agricultural sector, pharmaceuticals, food industry, retail and logistics) through Kredobank, the purchase of fire-fighting equipment for the Chornobyl zone (plan presented by the EBRD and Ukraine), the implementation of grant programs.

For reference

Currently, the EBRD is involved in 524 projects in Ukraine. The total investments of the European Bank for Reconstruction and Development in Ukraine amount to EUR 17.974 billion.