EBRD President confirms commitment to Ukraine

By Anton Usov


EBRD President Suma Chakrabarti is currently visiting Ukraine for meetings with the country’s President Petro Poroshenko, Prime Minister Volodymyr Groysman, Minister of Finance and EBRD Governor Oksana Markarova and the National Bank Governor Yakiv Smolii. He will also see EBRD private sector clients outside the capital city Kiev.

President Chakrabarti welcomed the approval of a new Stand-by Arrangement for Ukraine by the Executive Board of the International Monetary Fund (IMF), an important step in ensuring Ukraine’s macroeconomic stability in 2019 and beyond.

Over the past few years, the EBRD has helped to stabilise and restructure Ukraine’s banking sector as well as promoted energy security and reforms needed for sustainable private sector development.

Speaking in Kiev President Chakrabarti pledged to continue this support. “The EBRD stands ready to continue attracting much-needed investment to Ukraine and assist in promoting reforms in key areas. We have a healthy pipeline of projects and appetite to do more in the country.”

In October 2018, the EBRD Board of Directors approved a new strategy for Ukraine which set out the Bank’s priorities in the country for the next five years. It is aligned with the IMF strategy for Ukraine and designed to promote privatisation in the public sector, rule of law, strengthening energy security, enhancing the financial system and improving integration.

The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of almost €12.1 billion across some 400 projects in Ukraine.