Ukraine to receive €200M from EBRD

The European Bank for Reconstruction and Development (EBRD) will provide Ukraine with €200 million, Report informs via RBC-Ukraine.

The funds are allocated to support Naftogaz of Ukraine in creating strategic reserves of natural gas and maintaining energy security, according to the Finance Ministry of Ukraine.

On July 16, Finance Minister Sergii Marchenko and EBRD Managing Director for Ukraine and Moldova Arvid Tuerkner signed a guarantee agreement.

According to the Ukrainian Minister, the signing is an important step towards strengthening Ukraine's energy stability in wartimes. He added that the EBRD is a leader in supporting energy efficiency initiatives.

The parties also held a working meeting on the status of joint projects and further priorities for cooperation.

The Ministry of Finance noted that ten joint projects with the EBRD totaling 2.1 billion euros are currently being implemented in the public sector of Ukraine.

According to Marchenko, thanks to close cooperation with the EBRD, the Ukrainian side is implementing projects in the energy sector, providing liquidity support to key public sector enterprises, rebuilding infrastructure and operating businesses in the private sector.

Since the beginning of Russia's large-scale invasion, the EBRD's assistance to Ukraine in all areas has reached almost €4 billion.

According to the Ministry, the Bank plans to continue investing between €1.5 and €2 billion annually in Ukraine.