EBRD: €2bn resilience package for Ukraine and neighbours

0
6879
Yellow and Blue map of Ukraine

European Bank for Reconstruction and Development prioritises trade finance, liquidity, energy and municipal services as it plans for the reconstruction to come. 

The European Bank for Reconstruction and Development (EBRD) has announced an initial €2bn resilience package of measures to help citizens, companies and countries affected by the war on Ukraine. The Bank has also pledged to do all it can to help with the country’s reconstruction, once conditions allow.

Funding will be made rapidly available to support Ukrainian companies with deferred loans, liquidity support and trade finance. Where possible, businesses will also be helped to relocate so their work can continue.

In addition, the Bank’s Resilience and Livelihoods Framework will help in countries directly affected by inflows of Ukrainian refugees. Women, children and the elderly make up the majority of those displaced and municipal authorities face huge challenges in managing the influx of people.

EBRD President Odile Renaud-Basso said: “Our shareholders have given their full support to this package, and our staff are already working on the ground to implement these steps. We are facing an unparalleled crisis, but throughout our history, we have been a Bank that rises to the challenge. The people of Ukraine have our complete backing.”

Once conditions permit, the EBRD is ready to take part in a reconstruction programme for Ukraine – restoring vital infrastructure and enabling access to services.

It also plans to work with neighbouring countries not only to help with the refugee crisis, but to support a more rapid energy transition to improve energy security against the backdrop of cutting imports from Russia and Belarus.