Appropriate support from one of the most powerful donors and grant-makers in Ukraine can be quickly deployed in two areas in this field.
The European Bank for Reconstruction and Development (EBRD) provides active assistance to Ukraine, focusing on resourcefulness and assistance to the private sector.
The corresponding projects aroused the interest of EBRD partners in restoration of Kherson and Mykolaiv regions, as reported at the meeting in London held between Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine, and Odile Renaud-Basso, President of the EBRD.
The EBRD provided for Ukraine assistance for two years amounting to EUR 3.8 billion: what are the priority areas
Yuliia Svyrydenko noted at the meeting, “The EBRD is concerned in the private sector serving as basis for recovery of Ukraine. This year, the Bank will continue to support Ukrainian business: some specific projects have already been developed in power supply, production, logistics, agricultural sector and many others. Since the private sector will serve as basis for recovery of Ukraine, it is important for us to coordinate our efforts of international financial institutions for a more effective and large-scale reconstruction of Ukraine with an emphasis on the private sector”.
Discussion at the meeting concerned a practical algorithm for launching business insurance against war risks, in particular, tools for vessel and cargo insurance either en route or at the warehouses.
The European Bank for Reconstruction and Development (EBRD) provided to Ukraine EUR 2.1 billion in 2023, as compared to EUR 1.7 billion in 2022. The EBRD, as the largest institutional investor in Ukraine, has significantly increased its investments since the large-scale Russian invasion in February 2022: just in October 2023 the Bank exceeded its goal of investing EUR 3 billion in Ukraine during 2022-2023.
In 2023, the EBRD management decided to increase the Bank’s paid-up capital by EUR 4 billion up to EUR 34 billion in order to provide further support to Ukraine. Investments in Ukraine during the war are planned to keep the level of EUR 1.5 billion per year.
During 2022-2023, the EBRD managed to mobilize ca. EUR 1.6 billion of donor funds for Ukraine, including unfunded guarantees. Of this amount, over EUR 409 million were allocated in 2023. Almost half of the donor resources were provided by the European Union. Individual donors also made significant contributions, such as Canada, Norway, Spain and the Netherlands.
Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), highlighted the fact of enormous support of Ukraine from the West. She notes, it overshadows the Marshall Plan (the US plan to rebuild Europe after the Second World War). Her statement came in response to critics who say that Kyiv’s allies have not done enough to support it, as well as amid talk of the need to seize frozen Russian assets in favor of Ukraine.
Source – https://zn.ua/ukr/business/jebrr-vvazhaje-privatnij-sektor-osnovoju-vidnovlennja-ukrajini.html