EBRD President reaffirms Bank’s support on fifth wartime visit to Ukraine

This article is brought to you in association with EBRD.

• EBRD President makes fifth wartime visit to Kyiv with senior delegation
• Meetings with Ukrainian President Volodymyr Zelensky, senior officials and business leaders
• EBRD has deployed over €6.2 billion in Ukraine during the war

A senior delegation from the European Bank for Reconstruction and Development (EBRD), headed by President Odile Renaud-Basso, visited Kyiv this week for talks with Ukraine’s government and business leaders on support for the Ukrainian economy. This three-day visit came at a critical juncture, with the war nearing the three-year mark.

The EBRD has significantly stepped up its investment in Ukraine since Russia’s full-scale invasion of the country, deploying more than €6.2 billion there since 2022, with a record €2.4 billion deployed last year.

EBRD President Odile Renaud-Basso said: “Ukraine has shown remarkable resilience and courage, and the EBRD continues to stand with its brave people. We are working to swiftly deliver critical high-quality energy and infrastructure projects and boost private-sector investment, including through human capital development. These projects contribute to economic recovery and reconstruction. We will continue to address the country’s immediate needs and support its long-term aspirations, including EU accession.”

Accompanied by EBRD Vice-President, Banking, Matteo Patrone, the Bank’s Managing Director for Ukraine and Moldova, Arvid Tuerkner, and its Managing Director for Financial Institutions, Francis Malige, President Renaud-Basso was in Kyiv to discuss the government’s key priorities and Ukraine’s financial needs.

During the visit, the delegation met Ukrainian President Volodymyr Zelensky, Prime Minister Denis Shmyhal, First Deputy Prime Minister Yulia Svyrydenko, Deputy Prime Minister for Restoration of Ukraine and Minister for Communities and Territories Development Oleksii Kuleba, Deputy Prime Minister and Minister for National Unity of Ukraine Oleksiy Chernyshov, Finance Minister Serhii Marchenko and the Governor of the National Bank of Ukraine (NBU), Andriy Pyshnyy.

During the meeting with Deputy Prime Minister Kuleba, President Renaud-Basso signed a guarantee agreement supporting the EBRD’s €300 million loan to Ukrainian Railways (UZ) for the purchase of electric locomotives.

The delegation also held extensive discussions with the leaders of several state-owned enterprises and private-sector companies, as well as international partners and civil society organisations, in order to understand opportunities for the EBRD to further bolster Ukraine’s real economy.

A notable highlight of the meeting between the EBRD and the NBU was the NBU’s presentation of a Guidance Note to Support Ukrainian Financial Institutions in Becoming More Inclusive, Safer, and More Accessible Employers.

That guidance note, which had been developed by the EBRD and the NBU, provides a framework explaining how banks can adapt workplace practices in order to better support veterans – both as employees and as clients – helping them to transition from military to civilian life. Preserving human capital is a strategic priority for the EBRD, and the Bank will continue to work alongside the NBU and its partner banks to embed these guidelines and improve financial services for veterans and other people affected by the war.

The EBRD is a committed and steadfast partner of Ukraine. Over the last 30 years, the Bank has been the largest institutional investor in the country, with cumulative investment of over €22 billion through more than 600 projects. The EBRD’s wartime investment has focused on five priority areas: energy security, vital infrastructure, food security, trade, and support for the private sector.