Restoration of the energy sector and reconstruction of infrastructure are key in the Ukraine-EBRD cooperation: Sergii Marchenko met with the EBRD President

On June 5, Minister of Finance of Ukraine Sergii Marchenko met with the President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso.

The meeting was also attended by Deputy Minister of Finance Olga Zykova (online), Deputy Minister of Finance Alexander Kava and Government Commissioner for Public Debt Management Yuriy Butsa. The Bank was represented by Vice President Matteo Patrone, the newly appointed Managing Director for Ukraine and Moldova Arvid Türkner and Alternate Board Director for Ukraine Artem Shevalev. 

The Minister of Finance congratulated Odile Renaud-Basso on his re-election as President of the EBRD and Matteo Patrone and Arvid Türkner on their appointment as Vice President of the EBRD and Managing Director for Ukraine and Moldova, respectively. 

The parties discussed the priorities of the EBRD's activities in Ukraine, in particular in the energy, infrastructure and municipal sectors, as well as further cooperation in this area.

The Minister of Finance expressed his gratitude to the Bank's leadership for the assistance provided to Ukraine:

"russia's full-scale aggression continues to create difficult economic conditions for Ukraine. The EBRD is our key partner, providing financing to support liquidity and stable operation of key areas of the public sector, which is critical for the state and citizens in times of war. We greatly appreciate the Bank's determination and commitment to support Ukraine and the significant increase in project investments."

Since the beginning of the full-scale invasion, the Bank's assistance has reached almost EUR 4 billion. As of June 2024, the total amount of EBRD financing provided to Ukraine over the entire period of cooperation is about EUR 19.5 billion. In the public sector, 10 joint projects are being implemented with a total loan volume of EUR 2.1 billion. In 2024, the disbursement under these projects amounted to over EUR 154.3 million.

Sergii Marchenko also emphasised the importance of maintaining external support from international partners this year and beyond. For its part, the Government continues to take all necessary measures to mobilise resources for critical budgetary needs while implementing reforms within the framework of donor programs with key partners - the G7 countries, the EU, the IMF and the World Bank. 

In this context, the parties noted the introduction of the analytical tool Reforms Matrix. The Matrix systematises the recommendations of Ukraine's international partners and the reforms identified in cooperation with donors in key sectors while also allowing for monitoring and analysis of the implementation of measures. 

In addition, in cooperation with international financial institutions, the priority for the Ukrainian side remains the effective implementation of rapid recovery initiatives and investment projects, which will contribute to the long-term stabilisation of the financial and economic situation. 

Odile Renaud-Basso emphasised that the energy and private sectors, as well as municipal infrastructure, remain the Bank's critical areas for mobilising financing. The importance of promoting the country's energy security and stabilising the electricity market in Ukraine was once again emphasised, especially in the context of Russia's systematic energy terror. 

The Bank's representatives expressed their commitment to supporting the Government of Ukraine in developing and restoring priority economic sectors. In particular, by mobilising resources to support initiatives in the energy, municipal and transportation sectors.