EBRD allocates over €53 M to boost food security in Ukraine

EBRD allocates over €53 M to boost food security in Ukraine

Ukrinform
The European Bank for Reconstruction and Development (EBRD) issues risk-sharing instruments to selected local banks and a leasing company to a total value of €53.25 million to boost food security in wartime Ukraine.

“The EBRD is boosting food security in wartime Ukraine by issuing risk-sharing instruments to selected local banks and a leasing company that will back more than half the credit risk of newly originated financing provided by them up to a total value of €53.25 million. The share of risk the EBRD takes on with ProCredit Bank, OTP Bank Ukraine and OTP Leasing comes to €30 million,” reads the EBRD’s press release.

As noted, boosting food security during the war is a key element of the Bank’s five-pronged support plan for Ukraine’s real economy.

“The EBRD’s dedicated food security package envisages supporting €200 million of food security investment this year in Ukraine. The EBRD is also supporting trade, energy security, vital infrastructure and the pharmaceuticals industry through €1 billion of investment planned in Ukraine this year,” the press release underscores.

Earlier, EBRD President Odile Renaud-Basso said that the Bank would exit its stakes in Russian companies as quickly as possible.

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