(MENAFN- UkrinForm) The European investment bank and European Bank for Reconstruction and Development plan further investments in Ukraine's economy, trying to take into account war risks and evenly distribute funds between the public and private sectors.
This was stated by the heads of the EIB and EBRD during the discussion of reducing risks and access to financing and uncovering investment and trade potential as part of the Ukraine Recovery conference in Berlin, an Ukrinform correspondent reports.
In particular, EIB chief Lionel Rapaille noted that already after the start of Russia's full-scale invasion, his bank invested more than EUR 2 billion in Ukraine in three areas: critical infrastructure, investments at the municipal level, as well as private sector support.
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In particular, in the context of critical infrastructure, the bank financed restoration of bridges, railway infrastructure, etc. On the other hand, at the municipal level, this is about investments in social infrastructure – reconstruction of hospitals and construction of social housing. According to Rapaille, another EUR 100 million agreement for the development of social infrastructure was signed just recently. In the context of supporting the private sector, the EIB chief called the biggest challenge the ability of Ukrainian banks to deliver funds to the private sector.
Now with the help of the EU and the European Commission as part the Ukraine Facility, more than EUR 1 billion can be mobilized to this end, Rapaille emphasized.
In turn, EBRD Managing Director Arvid Tuerkner emphasized that since the beginning of the full-scale war, the bank has invested more than EUR 4 billion in Ukraine, evenly distributing funds between the public and private sectors.
This year, the bank also invested, and at the URC, it is adding another EUR 1 billion to that funding, Tuerkner emphasized.
He added that this is a combination of previous financing agreements and commitments that the bank has taken on.
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The bank is willing to start this work as soon as possible, taking into account the situation and the huge needs that exist at the moment, Tuerkner stated.
As reported, new financing from the EIB and European Commission was signed in Berlin on the sidelines of the URC 2024 to mobilize more than EUR 1 billion for Ukrainian business and the restoration of local critical infrastructure.
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