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EBRD to give Ukraine an additional 1.5 billion euros – media

These funds will be allocated in addition to 3 billion euros, which were planned for the previous and current years, sources said.

The European Bank for Reconstruction and Development (EBRD) plans to allocate another 1.5 billion euros next year to support Ukraine’s infrastructure and economy. On Wednesday, May 24, The Guardian reported, citing a senior source at the bank.

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It is noted that these funds will be allocated in addition to the 3 billion euros planned by the EBRD for 2022 and the rest of 2023.

At the same time, last year the bank allocated 1.7 billion euros for the restoration of Ukraine’s gas and railway networks. The EBRD is also helping Ukraine pay salaries to civil servants and provide loans to small and medium-sized businesses to help rebuild the economy after Russia’s invasion last February.

“The Ukrainian economy has become very stable. Everything is working. The banks are working, there is no massive outflow of funds from the banks. At the beginning there was a big shock – minus 30% (GDP, – ed.)… This stability is due to the amazing resilience of people and their ability to find a solution and continue with business, migration and so on. This is very impressive,” said Odile Renaud-Basso, president of the bank.

Earlier, the EBRD called for the necessary amount of investment for the rapid recovery of Ukraine in the next five years.

The EBRD also maintained its economic growth forecast for Ukraine for the current and subsequent years.

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Source: korrespondent

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