European Bank for Reconstruction and Development (EBRD) has approved investments of over €1.3 billion into the Ukrainian economy. This was announced by Ukrainian Prime Minister Denis Shmygal on December 4 via Telegram.
The approval of such a large sum of investments is a testament to the growing confidence in the Ukrainian economy and its potential for growth and development. This decision by the EBRD is a major boost for Ukraine, especially during these uncertain times caused by the global pandemic.
The EBRD is an international financial institution that was established in 1991 to support the transition of Central and Eastern European countries to market economies. Since then, the EBRD has expanded its mandate to include countries from other regions, including Ukraine.
The approved investments will be used to support various sectors of the Ukrainian economy, including infrastructure, energy, and small and medium-sized enterprises. This will not only create new jobs and opportunities for Ukrainians, but also contribute to the overall economic growth and stability of the country.
One of the major projects that will benefit from the EBRD investments is the reconstruction of the Kyiv-Odessa highway. This project aims to improve the transportation infrastructure and connectivity between two major cities in Ukraine, which will have a positive impact on trade and economic development.
In addition, the EBRD will also invest in renewable energy projects in Ukraine, which will help reduce the country’s dependence on imported energy and promote sustainable development. This is in line with the EBRD’s commitment to supporting green and sustainable initiatives.
The EBRD’s investments will also focus on supporting small and medium-sized enterprises (SMEs) in Ukraine. This is especially important as SMEs are the backbone of the Ukrainian economy, accounting for over 60% of the country’s GDP and providing employment for a significant portion of the population.
The EBRD’s investments will not only provide financial support for SMEs, but also offer technical assistance and expertise to help these businesses grow and become more competitive in the global market.
The EBRD’s decision to invest in Ukraine is a clear indication of the country’s progress in implementing economic reforms and creating a more business-friendly environment. This has been a top priority for the Ukrainian government, and it is paying off with increased foreign investments and improved economic indicators.
Prime Minister Shmygal expressed his gratitude for the EBRD’s decision, stating that it is a recognition of the Ukrainian government’s efforts to improve the investment climate and create a more stable and prosperous economy.
He also emphasized that the EBRD’s investments will be used efficiently and transparently, in line with international standards and best practices. This will not only ensure the success of the projects, but also build trust and confidence in the Ukrainian economy among foreign investors.
The EBRD’s investments in Ukraine have the potential to bring positive change and contribute to the country’s long-term economic growth and stability. This is a clear signal to the international community that Ukraine is open for business and ready to take its rightful place among leading economies.
In conclusion, the EBRD’s approval of investments of over €1.3 billion into the Ukrainian economy is a significant milestone for the country and a vote of confidence in its potential for growth and development. This decision will have a positive impact on various sectors of the economy and contribute to the overall economic stability and prosperity of Ukraine. The Ukrainian government is committed to ensuring the efficient and transparent use of these investments, and is determined to continue implementing reforms to create a more attractive business environment. With the support of the EBRD and other international partners, Ukraine is on the path to a brighter and more prosperous future.
