EBRD to invest $1 bln in 2022, ready to fund Naftogaz

KYIV. May 26 (Interfax) - The European Bank for Reconstruction and Development (EBRD) is planning $1-billion investment in 2022 and is ready to fund Naftogaz of Ukraine, EBRD President Odile Renaud-Basso said.

She said during a discussion at the Ukraine House Davos on the sidelines of the World Economic Forum on Wednesday that the bank was set to continue investments in the amount of $1 billion in 2022 and would focus on the support for critical infrastructure, such as the power grid (Ukrenergo). The EBRD will also reserve a credit line for Naftogaz to support its circulating assets and liquidity.

In her words, the EBRD is set to continue the fulfillment of an investment plan supporting those companies and the entire private sector and to open credit lines for agro-business, the pharmaceutical industry and others, Renaud-Basso said.

In addition, the bank will be working with municipalities to help internally displaced persons, she said.