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Ukraine overview

Cityscape in Ukraine

We have announced an initial €2 billion resilience package of measures to help citizens, companies and countries affected by the war on Ukraine.

The EBRD has also pledged to do all it can to help with the country’s reconstruction, once conditions allow.

Learn more about the EBRD and the war on Ukraine

The EBRD’s role in Ukraine (as of January 2023)

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 pays 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 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 an EBRD donor. In 2010 Ukraine signed a €10 million contribution agreement to the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund. And the second contribution agreement for €10 million was signed in 2020.

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

Current GDP forecast for Ukraine’s Real GDP growth in 2023 1.0%

Current GDP forecast for Ukraine’s Real GDP growth in 2024 3.0%

After an unprecedented fall in GDP in 2022, estimated at 29.1 per cent, economic output has stabilised at around 70 per cent of the pre-war level in real terms. Most businesses continue operating, though with reduced capacity in an environment characterised by a war of attrition concentrated in the east and south-east of the country. Producers have to cope with frequent electricity shortages, damages to capital stock and infrastructure, logistical challenges, skill shortages and occasional air raids. 

Ukraine in the EBRD’s 2022-23 Transition Report

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