Sergii Marchenko: The EBRD Remains One of the Largest Institutional Investors in Ukraine

Joint investment projects between Ukraine and the EBRD open opportunities for more effective and systematic cooperation. As a result of the well-coordinated bilateral cooperation in 2020, agreements have been concluded under 6 joint investment projects. Long-term preferential financing of the EBRD will be attracted in the total amount of EUR 643.4 million for the implementation. These funds will be used for capital repairs and construction of roads of national importance, improvement of the quality of postal services provided to the population, operational efficiency of natural gas production, energy efficiency measures and support the liquidity of UkSATSE.

This was noted by Minister of Finance Sergii Marchenko during an online meeting with Matteo Patrone, the Managing Director, Eastern Europe, and the Caucasus at the European Bank for Reconstruction and Development.

"We appreciate the full range of assistance provided to Ukraine by the EBRD, from project financing in the public, private and regional sectors to support the implementation of various priority reforms in the financial, energy, infrastructure, and other spheres," said Sergii Marchenko.

During the meeting, the parties summed up the results of cooperation between Ukraine and the EBRD in 2020 and discussed further work plans for 2021.

Sergii Marchenko thanked the EBRD representatives for their active support and assistance in the sphere of infrastructure development and modernization, strengthening energy security by improving the effective regulatory environment, as well as continuing corporate governance reform in the public sector companies.

For reference: The EBRD is one of the largest institutional investors in Ukraine. As of 01.01.21, the total amount of funding allocated to Ukraine by the EBRD is EUR 14.5 billion in 486 projects (in the public, private, municipal sectors). As of 01.01.21, eight EUR 1.7 billion worth joint projects with the EBRD in the public sector of the economy are currently underway. The amount of borrowed funds for these projects as of 01.01.21 is EUR 926.5 million (54.5% of the total), including EUR 70.4 million in 2020.

The EBRD is now devoting part of its activities to counteract the spread of the pandemic, support recovery, and provide liquidity to existing clients of the Bank.