EBRD and EU to provide 517 mln euros for Ukraine's recovery, support of its economy

MOSCOW. June 13 (Interfax) - The European Union will provide 517 million euros in additional support as part of four European Bank for Reconstruction and Development (EBRD) programs, as well as 143 million euros in loans for Ukrainian citizens.

The agreements were signed by EBRD Managing Director for Ukraine and Moldova Arvid Tuerkner and European Commission Vice President Valdis Dombrovskis at the Ukraine Recovery Conference in Berlin on Tuesday.

The EU will provide a financial guarantee of 140 million euros for the EBRD's Financial Inclusion Recovery Program. It will also offer blending grants of 30 million euros and technical assistance of 7 million euros for the SME Competitiveness and Inclusion Program in Ukraine, the EBRD said in a press release. Both will boost much-needed access to finance for small and medium-sized enterprises.

A further 150 million-euro financial guarantee and 7.5 million euros of technical assistance go to the Hi-Bar guarantee program, which supports both new and existing climate mitigation technologies, in particular in the energy sector, it said.

The EU will also make available a financial guarantee of 150 million euros, along with blending grants of 25 million euros and technical assistance of 7.5 million euros, for the EBRD's Municipal, Infrastructure and Industrial Resilience Program, which addresses the needs for emergency support and future reconstruction efforts across various sectors, including industry, transport and municipal infrastructure.