EBRD in Ukraine Monthly
The EBRD deployed a record €1.7 billion in Ukraine in 2022, also attracting additional co-finance from partner banks and international grants and guarantees from donors and shareholders.
The Bank, Ukraine’s largest institutional investor, has pledged to invest €3 billion in 2022-23 and stands ready to play a leading role in financing the country’s reconstruction when conditions allow.
Latest news
In case you missed it
In conversation: Ukraine's First Lady Olena Zelenska and EBRD President Odile Renaud-Basso
EBRD experts on Ukraine and its way forward
Latest reports and working papers
EBRD, USA and Sweden assess impact of war on SMEs in Ukraine
Reconstruction and development of Ukraine's financial sector after the war
The war on Ukraine and its effect on human capital
From the field
EBRD First Vice-President Jurgen Rigterink recently led a high-level delegation to Lviv in western Ukraine to discuss further increasing the Bank’s commitment to Ukraine as the country enters a second year of war.
Q: What was the reason behind your visit to Lviv? What did you hope to achieve?
Lviv is the biggest population centre in Western Ukraine and a 'natural' destination for internally displaced people. With the war restricting Ukraine's ability to import and export via its Black Sea ports, road and rail links leading west from Lviv are crucial for maintaining the economy. Thus, it’s an important city, and we wanted to reiterate the EBRD's strong support for the city, its people and Ukraine.
Q: What were your impressions of the city?
You could almost get the impression that it was 'business as usual'. Streets are busy, companies have growth ambitions, and municipal authorities are focused on improving the lives of the city’s residents and its infrastructure. But still, you could see the everyday impact of war in many other ways. During our visit, we inspected a small company that is a marker of Ukrainian business resilience: a car wash operation destroyed by a rocket attack last April, but rebuilt and back in operation within a month.
Q: How is the EBRD supporting Lviv?
At the end of last year, we lent the municipality €25 million in emergency liquidity to help maintain the functioning of Lviv’s vital infrastructure. Our visit allowed us to meet with our partners in the municipality and discuss the next steps. We aim to support municipalities such as Lviv to ensure they have the capacity to provide the high quality public services their residents need. This includes investments in vital infrastructure, but also supporting the implementation of the green agenda such as energy efficiency in public and residential buildings, e-mobility and others. We're also supporting a number of private companies that continue investing and providing employment and essential products and services - companies such as Enzym, Kormotech, Galnaftogaz, Softserve and Prana or partner financial institutions such as Bank Lviv.
Senior Economist | 15+ Years in International Development, Economic Policy, and Strategic Advisory | Expertise in Emerging Markets, Project Finance & Impact Investing | ex-OECD, ex-UN, ex-EBRD --- Opinions solely my own
1 年Well done. Short and to the point. EBRD is doing a lot in Ukraine and it is great to see this communicated. The needs, however are enormous so let's hope for more private sector involvement in the reconstruction going forward. Matteo Patrone
Municipal Solid Waste Management Expert , Interdisciplinary Research Consultants / id:rc , to implement " Cost Recovery Models for 8 Municipalities in Iraq .
1 年Love that, great effort , as I finished my higher education fro Ukraine.
CFO, CEO, Board
1 年Mutilateral investors and donors need to focus not only on intangable financing in eg liquidty facilities, shoring up the central bank, municipals and banks, but also with tangable project finance. Intangible and tangible finance should be monitored and reported on separately, since one is providing emergency stability while tangible will be core to physical reconstuction of the country. It clear that past efforts to integrate Ukraine with Europe has been partial and lacking in long term substance, laid bare in the current war. Ukraine is facing a reconstruction effort during Kremlin's attack and after the war. Ramping up physical infrastrcture investment will be necessary. Considering the long lead time with developing and constructing real world assets, this should start without delay.