EBRD provides a record €2.1 billion to Ukraine in 2023

The European Bank for Reconstruction and Development (EBRD) has set a new record by lending a record €2.1 billion to Ukraine in 2023. This is up from €1.7 billion allocated in 2022. This was reported by the EBRD press service.

The report states that in October 2023, the largest institutional investor in Ukraine exceeded its goal by investing €3 billion in the country during 2022-2023.

In 2023, the EBRD approved a resolution to increase the Bank's paid-in capital by €4 billion, raising its capital base to support Ukraine to €34 billion. It is projected that investments in the Ukrainian economy during the war will amount to approximately €1.5 billion annually. The increase in capital will provide an opportunity to double activity during the recovery.

During 2022 and 2023, the EBRD mobilized almost €1.6 billion in donor funds for Ukraine, including guarantees. The European Union, along with significant contributions from other donors, provided almost half of the donor resources.

In 2023, the EBRD committed €1 billion to the private sector, including €600 million in loans through partner financial institutions in Ukraine and €400 million for the Trade Facilitation Program.

EBRD President Odile Renaud-Basso said that the EBRD will remain an active and supportive investor in Ukraine, keeping private businesses and critical infrastructure operational even in difficult times.

The EBRD emphasized five areas of investment in Ukraine: energy security, critical infrastructure, food security, trade, and private sector support. In 2023, with a particular focus on energy security, significant amounts were allocated for gas and power projects.

President Zelenskyy expressed confidence in continued financial assistance from partners and hopes for €50 billion from the European Union, emphasizing the importance of international support for Ukraine.