EBRD planning 1.5-bln-euro investment in Ukraine in 2024, versus 2.1 billion euros in 2023

MOSCOW. Jan 25 (Interfax) - The European Bank for Reconstruction and Development (EBRD) gave a record financial assistance of 2.1 billion euros to Ukraine in 2023 and plans annual allocations of 1.5 billion euros from 2024, Ukrainian media said, citing the bank press release.

"Investment in Ukraine is expected to continue at around 1.5 billion euros a year, with the capital increase giving scope for a doubling of activity when the time comes for reconstruction," the press release said.

Last year, EBRD's governors approved a resolution to increase the Bank's paid-in capital by 4 billion euros, bringing its capital base to 34 billion euros, to sustain support for Ukraine, it said.

EBRD deployed 2.1 billion euros in Ukraine in 2023, following a total of 1.7 billion euros in 2022, and ended the year by exceeding its target of 3 billion euros for Ukraine in 2022-2023, having hit the target in October, the press release said.

EBRD succeeded in mobilizing nearly 1.6 billion euros for Ukraine's real economic sector in donor funds in the reporting period, and over 409 million euros of this amount was signed in 2023 alone, it said.

"In addition to significant contributions from individual donors including Canada, Norway, Spain and the Netherlands, the European Union provided nearly half of the donor resources," the press release said.

Also in 2023, EBRD deployed billion euros to the private sector alone, including 600 million euros in lending through partner financial institutions in Ukraine and 400 million euros of turnover through its Trade Facilitation Program.