The bank is investing nearly $25 million in the Lvov industrial park. The project was developed by Dragon Capital.
The European Bank for Reconstruction and Development will become the owner of a 35% stake in the M10 industrial park in Lviv and will invest $24.5 million, the EBRD press service said.
“Uncertainty about sea routes for imports and exports increases the importance of land routes to and from the EU through Western Ukraine, as well as storage capacity for goods. Therefore, the EBRD decided to invest in the M10 industrial park in Lviv,” the report said.
Developed by Tomasz Fiala’s Dragon Capital, the M10 is located 60 km from the Ukrainian-Polish border. It will provide new industrial storage and logistics facilities.
The total investment will be $24.5 million in a project worth $70 million.
Earlier, EBRD President Odile Renaud-Basso pledged that the bank would provide up to 3 billion euros in the 2022-23 period to help Ukrainian businesses and the economy continue to function. Last year, the EBRD sent 1.7 billion euros to Ukraine and mobilized another 200 million euros through partner banks.
Earlier it was reported that the EBRD significantly worsened the forecast for Ukraine’s GDP growth in 2023 – from 8%, which was expected in September 2022, to only 1%.
10 sites for industrial parks selected in the Zaporozhye region
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.