Ukraine overview

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Cityscape in Ukraine

In September 2018 the EBRD Board of Directors approved a new strategy for Ukraine which sets out the Bank’s priorities in the country for the next five years.

The EBRD will pay special attention to projects that will integrate investment and policy engagement in areas such as privatisation, energy security and efficiency, the financial sector, trade and infrastructure.

The EBRD’s operational and strategic priorities in Ukraine will rest on the following five pillars:

  • Promoting privatisation and commercialisation in the public sector to increase competitiveness and good governance: The EBRD will help stimulate private sector participation across sectors and further commercialisation of public sector firms. The Bank will continue to support the implementation of modern public sector procurement as well as the introduction of proper public governance.
  • Promoting the rule of law, fair competition in the private sector and support of companies that use best practice: The EBRD will foster competition and support anti-corruption efforts. Special attention will be paid to improved skills and to the employability of disadvantaged groups.
  • Strengthening energy security through effective regulation, market liberalisation, diversified and increased production and energy efficiency:  The EBRD will pledge more resources to create a market structure for sustainable energy and improved energy connectivity. The Bank will assist in the creation of increased resource efficiency and will help promote renewable energy.
  • Enhancing the resilience of the financial system by strengthening Ukraine’s banking sector, and by developing capital markets and non-bank finance: The EBRD will promote a stable and efficient banking sector, a greater variety of non-banking financial channels and the use thereof.
  • Improving integration by facilitating trade and investment, expanding infrastructure links, and supporting convergence with EU standards: The Bank will invest in improvements to connectivity through better infrastructure. It will also help facilitate increased trade and investment flows.

As well as being a country where the EBRD works, Ukraine is also a donor and a beneficiary of the Eastern Europe Energy Efficiency and Environment Partnership Fund (E5P) with total contributions of €20 million.

The EBRD’s latest Ukraine strategy was adopted on 3 October 2018

Ukraine's policy response to the coronavirus crisis

The EBRD is monitoring Ukraine's policy response to the coronavirus pandemic. Our biweekly publication identifies the major channels of disruption as well as selected impact and response indicators.

Learn more

Current GDP forecast for Ukraine’s Real GDP growth in 2021 3.5%

Current GDP forecast for Ukraine’s Real GDP growth in 2022 3.5%

The economy is returning to growth in 2021 but structural weaknesses continue to hold back a more rapid recovery. A combination of reduced foreign demand and the impact of repeated lockdowns on domestic demand caused GDP to decline by 4 per cent in 2020. Improved macro-financial management proved to be an asset in the crisis, helping the country to maintain macroeconomic stability. However, the declining public debt trend of recent years was reversed, as it increased from 50.2 per cent of GDP in 2019 to 60.8 per cent in 2020. A strong decline in the trade deficit and an increase in the primary income surplus helped turn the current account deficit into a large surplus of 4.0 per cent of GDP in 2020.

Ukraine in the EBRD’s 2020-21 Transition Report

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