Minister of Finance of Ukraine Met with the President of the European Bank for Reconstruction and Development

The Minister of Finance of Ukraine Sergii Marchenko held an online meeting with the President of the European Bank for Reconstruction and Development Odile Renaud-Basso. The parties discussed the implementation of the EBRD Assistance Package, joint projects to support the liquidity of state-owned enterprises in Ukraine, and potential lending of the Bank. As part of the Assistance Package in response to the war in Ukraine, the EBRD announced the allocation of EUR 2 billion to support Ukraine's sustainability and help the affected countries. The funds are planned to be used for loan vacations and restructuring, liquidity support, trade finance, including fuel imports, and support for government reforms. "I am grateful to the EBRD for its support during the difficult period of time for us - during the war, as well as to all the international partners who contribute to the economic stability of Ukraine. Since February 24, 2022, we have already received unprecedented assistance, about EUR 1.5 billion and USD 1.6 billion in loans and grants from international financial institutions, the EU, and foreign governments”, said Sergii Marchenko. The Minister of Finance also thanked Odile Renaud-Basso personally for her support on the sanctions front. Until April 1, the EBRD is voting on the suspension of access of russia and belarus to the Bank's resources. Previously Sergii Marchenko informed about this issue his colleagues from the EBRD. The parties discussed the possibility of restructuring the existing joint projects with the EBRD of Ukrzaliznytsia and Ukrenergo and directing these loans to emergency liquidity support. Today one of the priorities for financing in Ukraine is the agricultural sector to support the current sowing season. Minister of Finance offered EBRD to consider the possibility of providing credit lines for farmers. At the same time, due to the existing demand from the agricultural, pharmaceutical, and other industries Sergii Marchenko asked the EBRD to increase the limit for the Ukrainian banks under the Trade Finance Programme. The parties agreed to continue discussing further EBRD credit support.