Minister of Finance met with the President of the EBRD

On March 23, the Minister of Finance Sergii Marchenko met with the President of the European Bank for Reconstruction and Development Ms. Odile Renaud-Basso during her first foreign visit as the newly elected President.

Deputy Finance Ministers Yuriy Draganchuk and Olexandr Kava and Government Commissioner for Public Debt Management Yuriy Butsa also attended the meeting.

In 2020, due to the COVID-19 coronavirus pandemic, the pace of implementation of the EBRD projects slowed down compared to 2019. Despite this, thanks to effective cooperation between the Ukrainian side and the EBRD, agreements worth EUR 643.5 million in various sectors were concluded in 2020. 

"Cooperation with the EBRD is a very important key in the development of various areas of Ukraine. Last year during the pandemic we had several quarantine measures, but we were able to conclude agreements on important projects such as: "Ukrposhta Development Project Logistics Network and Rural Post Office" and "Development of Trans-European Road Network". Also, I want to thank EBRD for the projects on the support of liquidity of SE "UkSATSE" and JSC "Ukrainian railways", - said Minister of Finance.

Besides, at the meeting, the topic of Oschadbank joining the Fund of Individuals Deposits Guaranteeing was discussed, which is the first step on the way of EBRD entering the capital of the bank.

"A bill on the accession of Oschadbank to the Deposit Guarantee System has already been submitted to the Cabinet of Ministers of Ukraine, we expect a quick reaction. Also, soon we plan to submit the development strategy of Oschadbank for 2021-2024 for the approval of the government, "- said Deputy Finance Minister Yuriy Draganchuk.

The Minister of Finance noted that Ukraine is interested in the soonest stabilization of the energy market and noted about the possibility of issuing green bonds, guaranteed by the state, in international capital markets for covering debts to producers of renewable energy in 2021.

The EBRD President noted that the Bank is interested in developing the infrastructure and cooperation with the public sector in Ukraine and added that it is very important to have a constant dialogue between the two parties.

To sum up, in the future cooperation with the EBRD the important is the Bank's support of projects implementation in the corporate sector, increasing investments for the implementation of projects on modernization and further development of transport infrastructure in Ukraine, supporting the energy sector and other important projects.

Additional information:

Agreements between Ukraine and the EBRD in 2020:

• "Procurement of Workover Rings and Energy Efficiency Increase of JSC,
• “Ukrgasvydobuvannya" - EUR 518.5 million,
• "Ukrposhta" Development Project: Logistics Network and Rural Post Office" - EUR 63 million,
• "Development of Trans-European Road Network" - EUR 450 million,
• Agreement between SE "Ukraeroruh" and EBRD: UkSTATE Liquidity  Facility Project - EUR 25 million,
• Agreements in the municipal sector (EUR 53.5 million): Khmelnytskyi Solid Waste t Project - EUR 28.5 million and Dnipro Public Buildings Energy Efficiency Project - EUR 25 million.