Ukraine receives EUR 1.1bn in investments from EBRD in 2009.

By bne IntelliNews April 12, 2010
The European Bank for Reconstruction and Development (EBRD) allocated funds for new projects in Ukraine at EUR 1.1bn in 2009, according to Olivier Descamps, EBRD Managing Director for Turkey , Eastern Europe , Caucasus and Central Asia . According to him, 60% of the total sum went to financial sector to help banks survive, 25% - the corporate sector, mainly in agribusiness that needed working capital and restructuring. The remaining funds were sent to six municipalities, Descamps said adding that a record increase in funding was due to the intention of the bank to help Ukraine overcome the crisis. According to him, in 2010 investments to the country will also be significant. However, he did not specify their planned volume, as Ukraine 's new government must establish priorities for implementation of projects. Among the priorities of the EBRD acitivity in Ukraine Descamps, in particular, called the resumption of lending to small and medium-sized enterprises, as well as support for large enterprises, survived amid crisis. He said that the bank can increase its participation in the authorized capital of banks, in which the EBRD has already owned the shares. The EBRD is the largest financial investor in Ukraine . As of January 1, 2010 it had committed to provide an investment of EUR 4.8bn within 194 projects.

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