Ukrainian economy

This amount is not strictly defined and may increase

The European Bank for Reconstruction and Development (EBRD) predicts continued investment in Ukraine in the next two years at the level of about €1.5 billion ($1.6 billion) per year. This was stated by the president of the EBRD Odile Renaud-Basso, informs Reuters.

According to her, the amount is «not set in stone» and may increase, for example, under conditions of acceleration of reconstruction, but there is still an urgent need to support Ukraine after the invasion of the Russian Federation, especially the energy sector and infrastructure.

In 2022-2023, the bank allocated €3 billion to support Ukraine’s infrastructure and provide credit lines, €1.7 billion were disbursed in 2022.

Odile Renaud-Basso said the EBRD has a revolving credit line with Naftogaz to help it buy enough gas, as it did last winter, and that the institution intends to increase that line.

The EBRD president also noted that financing conditions for emerging markets have worsened due to rapid growth in global interest rates, high inflation and a shift in the approach of some Gulf countries from providing fiscal support to seeking investment opportunities.

As GMK Center reported earlier, the Ministry of Economy expects growth of Ukraine’s GDP up to 4% this year. In the medium term, we can expect economic growth of 3.5% in 2024 and 6.8% – in 2025.

Also, business support – the fifth priority in the state budget project for 2024. Next year, the Cabinet of Ministers plans to allocate UAH 31 billion for these purposes.