Our tactics will remain unchanged: to be very flexible. We will continue to support Ukraine – EBRD President

In a recent interview with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, detailed discussions were shared regarding the bank's support for Ukraine. Since the onset of the war, the EBRD has invested nearly EUR11 billion, with plans to invest around EUR 2.7 billion this year. The focus of the talks centered on the priorities, implementation issues, and the need for efficient resource allocation.

The majority of the financing - 80% - is expected to be directed towards the private sector this year.

The conversation touched upon winter preparations, emerging risks due to escalating Russian pressure, and reforms in state-owned enterprises. While some improvements in corporate governance are noted, progress is described as uneven. The EBRD supports reform in the governance of state enterprises, particularly in companies like Energoatom and Naftogaz.

Looking ahead to 2027, the bank anticipates a similar level of investment as previous years, contingent on the demand for investment from private-sector clients. Despite the ongoing challenges, the EBRD remains committed to its strategy of being very agile, balancing risk-taking and financial strength. Recent downgrades of the Ukrainian GDP forecast by independent analysts have prompted discussions, but the EBRD continues to believe that downside risks outweigh upside risks.

In terms of new projects, the EBRD is involved in stabilizing the electricity market, with a total funding requirement of approximately EUR 600 million.