The EBRD will invest €3 billion in Ukraine this year and next, and the EU is developing a mechanism for paying €18 billion

The European Bank for Reconstruction and Development (EBRD) will invest €3 billion in Ukraine in 2022 and 2023 to support the economy.

This was stated by the head of the bank, Odile Renault-Basso, after meeting with the President of Ukraine.

"I told President Zelenskyy that our commitment is for the long term, and we will invest up to €3 billion in 2022-2023 to support the economy, the private sector, and the urgent reconstruction of vital infrastructure," Renaud-Basso said, adding that the bank will invest more than one billion euros in Ukraine this year.

The President of the European Commission, Ursula von der Leyen, after the EU leadersʼ summit in Brussels, said that Ukraine can count on €18 billion next year. The ministers of finance of the EU countries were instructed to develop an appropriate mechanism.

She explained this amount to Ukraineʼs request. According to her, the Ukrainian side is asking for financing in the amount of €3-4 billion per month in order to have enough resources for basic needs. The European Union agrees to give €1.5 billion every month. The rest must be provided by the US and financial institutions.