Spain provides 100-mln-euro guarantee to EBRD for supporting Ukraine's agriculture, municipal sector

MOSCOW. April 14 (Interfax) - Spain and the European Bank for Reconstruction and Development (EBRD) have signed a 100-million-euro guarantee agreement to support EBRD operations in the Ukrainian municipal sector and to provide food security of Ukraine, the EBRD said in a statement on Thursday.

"Enlargement of agricultural production and security of the agricultural production and distribution chain in Ukraine are crucial for the provision of food security. EBRD investments help prevent a global food crisis and eliminate risks in the delivery of critical foods, especially to countries heavily dependent on food imports," the Ukrainian media quoted the EBRD as saying.

According to EBRD President Odile Renaud-Basso, the guarantees will enable the bank to solve the major problem of food security inside and outside of Ukraine and to offer further support to Ukrainian municipalities at this point and during the period of reconstructions.

Spain has joined the ranks of donors that give financial and technical support to Ukraine via the EBRD, the bank said. The donors have allotted about 1.4 billion euros for assisting the Ukrainian economy, including energy security, logistics and small companies.

Together with donors, the EBRD has pledged 3-billion-euro financing of Ukraine in 2022-2023 to support the functioning of domestic businesses and economy. The EBRD assigned 1.7 billion euros to support Ukraine in 2022, while raising 200 million euros from partner financial institutions.

The EBRD has been operating in Ukraine for over 30 years. This is the largest institutional investor in the country.