EBRD has Promised Ukraine 5 Billion Euros by 2020

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EBRD has Promised Ukraine 5 Billion Euros by 2020
Franco Bazzoli

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Franco Bazzoli

Mar 15, 2014

The European Bank for Reconstruction and Development (EBRD) is ready to help Ukraine's economy with investments worth at least five billion Euros in the period until 2020.

"If the economic situation permits, Ukraine could receive an amount in excess of five billion Euros," says the announcement of EBRD.

To regain the trust of investors, for Ukraine is crucial to agree to macroeconomic stabilization program with the International Monetary Fund (IMF) and to eradicate corruption.

This financial institution recalls that last year collaborated with Ukraine on the Anti-Corruption Initiative, and adds that EBRD hopes the further progress in this area, together with the new Ukrainian authorities.

Ukraine in 2014 should pay off to creditors about $ 10 billion; the largest part of the sum falls due for payment in May, June and August, said at a news conference the country's finance minister Oleksandr Shlapak.

He specified that most of the funds Ukraine owes to International Monetary Fund (IMF) and for euro bonds that the government broadcasted in foreign currency and sold to Ukrainian citizens and everyone who wanted to buy them. Smaller sums owes to other creditors such as the World Bank and EBRD.

Ukraine public debt.

Why we must support Ukraine.

 

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