The European Bank for Reconstruction and Development (EBRD) plans to invest at least EUR1.5 billion ($1.56 billion) this year to support Ukraine’s economy and businesses during the war, Reuters wrote on Thursday, citing the bank’s president Odile Renault-Basso.
She said the bank will focus on Ukraine’s private sector, especially the energy sector after repeated Russian attacks on the power grid and other infrastructure. “Our plan is to continue this level of investment. At a minimum, we are aiming for 1.5 billion euros of investment, but if we can do more…, we will,” Reno-Basso told reporters.
She also said that the bank’s activities are demand-driven and the EBRD is ready to increase its investments in Ukraine to about EUR3 billion a year after the war ends.
Renaud-Basso added that Ukraine’s energy sector was a key priority this year and also in the future, as projects to modernize the sector and develop renewable energy could drive private investment after the end of the war.
“There is a lot of potential, so this will generate a lot of interest from foreign investors and it will generate a lot of activity in the country – it will really drive the growth dynamics,” she said.
Renault-Basso reportedly met with Ukrainian President Volodymyr Zelensky and other officials during her visit to Kiev on Thursday. They discussed banking, logistics, and support for Ukrainians.
Since the start of the full-scale invasion, the EBRD has disbursed EUR6.2 billion to Ukraine, notably EUR2.4 billion last year.
