President of Ukraine Volodymyr Zelensky at a meeting with the delegation of the European Bank for Reconstruction and Development (EBRD), led by its president Suma Chakrabarti, has assured that bilateral cooperation will be intensified and will become more efficient. “We thank you for being here and thank you for being the largest investor in Ukraine. I want to assure that we will extend our cooperation,” Zelensky said at the meeting.
He stressed that the strategy of the EBRD is fully consistent with the priorities of Ukraine, and expressed conviction that Ukraine and the bank together can work more efficiently. Zelensky noted that the country appreciates cooperation with the international partners: the EBRD, the World Bank and the International Monetary Fund.
The president noted he had already met with the representatives of the IMF, at which Ukraine’s progress in fulfilling its obligations under the Stand-By Arrangement was noted. According to Zelensky, the parties discussed the issue of continuing cooperation.
The European Bank for Reconstruction and Development (EBRD) could provide Kyivteploenergo with up to EUR140 million in a loan to modernize the heat and power complex of the capital, Senior Adviser of the EBRD Anton Usov has said.
The parties under the ERBD Green Cities program signed an agreement on the preparation of financing.
It is expected that the result of this work will be a loan of up to EUR140 million, Usov said on Facebook.
As reported, Kyiv, following Lviv, became the second city in Ukraine, which joined the EBRD Green Cities project.
In the autumn of 2018, the EBRD approved the extension of this program with the possibility of allocating additional financing in the form of various loans with a total volume of up to EUR700 million. According to the program’s website, it currently has over EUR1 billion of confirmed funding, of which more than EUR250 million has already been invested.
The European Bank for Reconstruction and Development (EBRD) could organize a syndicated loan of EUR 80 million for state-owned Ukreximbank (Kyiv) to support renewable energy and energy efficiency private investments in Ukraine.
According to a posting on the bank’s website, EBRD will provide EUR 40 million from own account.
The provision of the loan is pending the approval of the EBRD Board on June 19, 2019.
Ukreximbank, a wholly owned state bank, was established in 1992. It ranked third among 77 banks in Ukraine in terms of total assets worth UAH 232.064 billion as of January 1, 2019, according to the National Bank of Ukraine (NBU).
The European Bank for Reconstruction and Development (EBRD) has recommended recommending the postponement of the wholesale electricity market opening in Ukraine, since the current state of groundwork for its implementation is not complete and the detailed regulatory and technical infrastructure required for a successful market is not yet in place.
According to a press release of the bank, on this basis, launching the new market on 1 July is likely to cause market malfunctioning and, therefore, be counterproductive to the interests of Ukrainian consumers and market participants.
“A postponement of the market opening should be, however, accompanied by a clear action plan of sequenced steps that would ensure its smooth introduction,” the bank said, adding that the EBRD is ready to offer all of its support in ensuring that this delay is as short as possible.
The EBRD said that the bank strongly endorse the introduction of a liberalized, competitive wholesale market in the power sector as the best route to deliver the highest possible efficiency in the generation of electricity.
A project foreseeing the possible provision of EUR 100 million to Myronivsky Hliboproduct (MHP, Ukraine) agricultural company by the European Bank for Reconstruction and Development (EBRD) requires review, EBRD Senior Advisor on External Affairs Anton Usov has told Interfax-Ukraine.
“Some media reports that the EBRD allegedly rejected this project are not true. It was not even submitted to the board of directors for consideration,” he said on Thursday.
Usov said that the new date for its consideration by the bank’s directors will be announced additionally.
As reported, in January 2019, the EBRD said that in March 2019 its directors could consider the issue of providing EUR 100 million to MHP to acquire Slovenia’s Perutnina Ptuj.
In November 2018 MHP signed an agreement to acquire a 90.68% stake in Slovenia’s Perutnina Ptuj, a vertically integrated company in Southeastern Europe.
The European Bank for Reconstruction and Development (EBRD) could provide a loan of EUR 250 million to implement Ukraine Public Transport Framework II, according to a posting on the EBRD’s website.
According to the report, the decision to provide financing the EBRD board is to discuss on July 24, 2019.
“The EBRD will be signing loan agreements with respective companies and guarantee and project support agreements with respective cities. Each loan will be guaranteed by the respective municipality,” the bank said.
The investments will primarily focus on transport renewal (acquisition of new trolleybuses, buses, trams and metro cars as applicable) and the rehabilitation and/or modernisation of public transport infrastructure including automated fare collection, automatic vehicle location and traffic management systems.
As reported, in October 2015, the EBRD approved the provision of EUR 100 million under Ukraine Public Transport Framework.
