Ukraine’s recovery needs are about 486 billion dollars, of which 15 billion are needed for rapid recovery.
Over the past two years, the European Bank for Reconstruction and Development (EBRD) has invested $3.8 billion in Ukraine. The president of the organization, Odile Renaud-Basso, announced this on Friday, February 16, during a panel discussion on the restoration of Ukraine at the Munich Security Conference, Suspilny’s correspondent reports.
“Over the past two years, we have invested $3.8 billion in Ukraine, which is more than before. We used to invest $1 million a year, so we have almost doubled our investment in the private sector, directly in companies and in also through the banking system. And I think the stability of the banking system has been amazing,” he said.
Renaud-Basso noted that the Ukrainian economy is stabilizing and even growing.
“More than 5% GDP growth in 2023. This is amazing! And it became possible thanks to the huge budget support that Ukraine received. It gave the Ukrainian government the opportunity to continue paying pensions , salary, create demand, etc. Therefore, maintaining this support, continuation The programs of the International Monetary Fund are very important. It is like an anchor. And on this basis we see a real ability to invest, “said of the President of the EBRD.
European Trade Commissioner Valdis Dombrovskis, who also took part in the discussion, said there are several things Ukraine needs “right now.”
“Military and financial assistance to support the economy. And that’s what we have to focus on now, obviously in the very short term,” Dombrovskis said.
German Minister of Economic Cooperation and Development Svenja Schulze outlined four “thematic dimensions” for the reconstruction of Ukraine.
“That means we have a human dimension, that is, social recovery. We have a business dimension: we have to mobilize the private sector, which is very important. We have a local and regional dimension. Municipalities and regions must be part of the process. They should help promote it. And the dimension of the European Union. We want Ukraine to continue its path towards the EU, and we need to support it in implementing the necessary reforms, “he said.
Earlier, the EBRD said Ukraine’s five-year post-war reconstruction period would require additional investment of nearly $50 billion per year. In particular, we are talking about the inflow of foreign capital.
Ukraine received a record 2.1 billion euros from the EBRD last year
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.