President of Ukraine

Head of State holds meeting with EBRD President

29 September 2023 - 15:49

Head of State holds meeting with EBRD President

President of Ukraine Volodymyr Zelenskyy held a meeting with President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso, who is visiting our country.

The Head of State expressed gratitude to the EBRD for their unwavering and steadfast support of our state in countering the full-scale Russian invasion and for financing development projects in Ukraine.

Zelenskyy said that even during the war, investments are coming into our country, but for the recovery and stable economic development, the volume of these investments should be significantly larger.

"If we have a reliable air defense system and jobs, people will return to Ukraine even now, while the war is ongoing. Our country will not only fight for its freedom but will also continue to live," the President said.

According to him, Ukraine is interested in continuing cooperation with the EBRD, particularly in the areas of energy security, trade financing, support for critical infrastructure and municipalities, food security, the corporate sector, and more.

Furthermore, the Head of State emphasized the need to increase funding for private sector projects and to attract additional private capital for the country's reconstruction.

The President of the EBRD, on her part, noted that Ukraine's economy has stabilized and continues to operate in a significant part of the country's territory.

She mentioned discussions with the Ukrainian government and the Prime Minister regarding preparations for the winter period.

"We will continue to support Ukrenergo in building air defense. We are also working with Naftogaz to ensure large gas reserves. In addition, we have a project with Ukrhydroenergo. And we will continue to finance Ukrzaliznytsia and transportation," Renaud-Basso said.

According to her, the bank intends to focus on projects in the private sector, including increasing production capacity in agriculture. The EBRD also collaborates with banks in financing small- and medium-sized businesses, including risk insurance.

Renaud-Basso said that the EBRD is working on increasing its authorized capital, which will enable additional funding for Ukraine's reconstruction.