Marchenko: Cooperation with EBRD key to Ukraine’s development

“In 2020, due to the COVID-19 pandemic, the pace of implementation of EBRD-supported projects slowed down compared to 2019. Nevertheless, the agreements worth EUR 643.5 million were concluded in various sectors thanks to the effective cooperation between the Ukrainian side and the EBRD in 2020,” Minister of Finance of Ukraine Serhiy Marchenko said during a meeting with EBRD President Odile Renaud-Basso on March 23, the Ministry’s press service informs.

The minister noted that “cooperation with the EBRD is key to the development of various areas of Ukraine. During the pandemic last year, we had a number of quarantine measures, but we managed to conclude agreements on important projects such as the Ukrposhta Logistics Development Project and the Trans-European Transport Network Development Project. I would also like to thank the EBRD for the UkSATSE and Ukrzaliznytsia liquidity support projects.

The parties also discussed the issue of Oschadbank’s joining the Deposit Guarantee Fund, which is the first step towards the EBRD's entry into the bank's capital.

The finance minister said that Ukraine was interested in stabilizing the energy market as soon as possible and noted the possibility of issuing government-guaranteed bonds in international capital markets to cover the debt to alternative energy producers in the first half of 2021.

The EBRD President pointed out that the Bank was interested in infrastructure development and cooperation with the public sector in Ukraine and stressed that it was very important to have a constant dialogue between the two sides.

As reported, EBRD President Odile Renaud-Basso paid a visit to Ukraine on March 22-23.

Ukraine is one of the three main areas of EBRD investment activity. Over the past two years alone, the Bank has allocated EUR 2 billion to support the country's economy. Investments are combined with support for policies towards combating corruption, implementing good governance, structural reforms and creating a more transparent business environment.

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