Posted on 04/14/2014 3:00:50 PM PDT by PieterCasparzen
Today the Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved two projects for Ukraine, amounting to €350 million.
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The first project is a €150 million framework facility, which will support the Bank’s existing clients in Ukraine’s real sector. The facility will help Ukrainian companies address their liquidity and working capital needs as well as overcome difficulties and constraints caused by the financial crisis and the reduced availability of external funding. It is expected that the facility will restore confidence and appetite for future projects in Ukraine among foreign and domestic investors.
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The Bank will also resume its lending operations in the sovereign sector once Ukraine’s agreement for a macro-economic stabilisation programme with the International Monetary Fund is approved. The second transaction, which is subject to this condition, represents a €200 million second tranche of the Pan-European Corridors road project.
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The EBRD is the largest financial investor in Ukraine. As of 1 April 2014 the Bank had committed €8.9 billion (US$ 12.2 billion) through 326 projects in the country.
(Excerpt) Read more at ebrd.com ...
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