Ukraine, EBRD signed agreements worth EUR 643.5 million last year

Last year, Ukraine and the EBRD signed agreements to the tune of EUR 643.5 million, which were used to implement a number of projects in the private and public sectors, in the field of implementing best corporate governance practices in state-owned enterprises.

The press service of the Ministry of Finance released a corresponding statement following an online meeting between Minister of Finance of Ukraine Serhiy Marchenko and Odile Renaud-Basso.

"In 2020, the Bank and the Ukrainian side concluded agreements totaling EUR 643.5 million. Thanks to these investments, we were able to launch a number of projects in the private and public sectors, in the field of implementing best corporate governance practices in state-owned enterprises, as well as in promoting financing in local currency. The EBRD is one of the key partners for Ukraine," Serhiy Marchenko said.

The meeting participants also discussed the issue of Oschadbank's accession to the Deposit Guarantee Fund, which is the first step towards the EBRD's entry into the bank's capital. The Minister of Finance of Ukraine noted that on June 9, the Tax Committee of the Verkhovna Rada supported alternative bill No. 5542-1 on the accession of the state-owned Oschadbank to the Deposit Guarantee Fund.

The climate issue is now relevant to the EBRD's work. The Bank has been investing in the green transition for more than five years. To date, the EBRD plans to increase funding to at least 50% of investment in environmental projects by 2025.

Marchenko stressed that Ukraine supported the European Green Deal and was ready to cooperate with international partners for sustainable development and implementation of the green economy.

Odile Renaud-Basso noted that the EBRD Annual Meeting would focus on post-COVId-19 economic recovery, fight against inequality, green transition, digitalisation, and expansion of the Bank's operations.

"Thank you for the cooperation and productive meeting we had during my first visit to Kyiv as the EBRD President. We look forward to continuing to work together with a stronger focus on green investment and advancing key reforms in Ukraine. We will be glad to see you at the EBRD Annual Meeting, where we will be able to discuss important issues of further cooperation," the EBRD President said.

As a reminder, the EBRD is the largest institutional investor in Ukraine. As of the beginning of June 2021, the total amount of financing allocated to Ukraine by the Bank is EUR 14.8 billion under 497 projects. Eight joint projects with the EBRD are currently being implemented with a total loan of EUR 1,679.3 million.

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