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EBRD to give Ukraine US $1 billion

May 6, 2010

The European Bank of Reconstruction and Development (EBRD) is prepared to lend Ukraine more than US $1 billion to carry out a series of investment projects in 2010, according to statement issued by EBRD President Tomas Mirov.

“If all these projects are completed on time, I think that we should see this amount go to well over US $1 billion again this year,” said Mr. Mirov. He noted that the EBRD invested EUR 1.1bn or US $1.5bn in Ukraine in 2009.

According to Tomas Mirov, the EBRD focused mostly on corporate projects in 2008 and financial projects in 2009, whereas in 2010, the Bank is looking primarily at investing in the agricultural sector. Among its priority areas remain investment in building power transmission lines and highways, modernizing the gas transit system (GST), and developing municipal projects.

Tags: investment, EBRD