18 May 2023 09:44

Netherlands providing 40 mln euros in EBRD grants to Ukraine

MOSCOW. May 18 (Interfax) - The Netherlands, a founding member of the European Bank for Reconstruction and Development (EBRD), announced at the EBRD Annual Meeting and Business Forum 2023 in Samarkand, Uzbekistan, on Wednesday that it is making 40 million euros in grants available to support banks' operations in Ukraine.

"Donor support for Ukraine through the EBRD continues to grow to around €1.5 billion," Ukrainian media quoted the EBRD as saying in a press release.

This follows a previous contribution of 72 million euros in grant support to an EBRD loan which benefits Ukrenergo, Ukraine's power grid operator, the bank said.

Furthermore, the Netherlands provided 25 million euros in guarantees to support private companies that operate in critical parts of Ukraine's agricultural sector, including farming, food processing, transport and imports.

The EBRD has committed to providing 3 billion euros of financing over 2022 and 2023 in partnership with international donors to help keep Ukraine's businesses and economy functioning, it said. In 2022, the EBRD deployed 1.7 billion euros in support of Ukraine and mobilized 200 million euros directly from partner financial institutions.