Norway and the Netherlands provided the EBRD with €170M to help Ukraine, but the bank has asked for more money.

The bank reported that Norway had allocated NOK 1.5B to support the activities of the EBRD to strengthen energy security in Ukraine, the bank said. This grant continued Norway’s NOK 2B (€195M) grant to Naftogaz in November 2022.

In turn, within the framework of cooperation with the EBRD, the Netherlands allocated €40M to support the bank’s work in Ukraine. This is the next contribution after the €72M grant to support a loan for Ukrenergo. The Netherlands also provided €25M in guarantees to support private companies operating in critical areas of Ukraine’s agricultural sector.

It is noted that donor support to Ukraine through the EBRD continues to grow and amounts to about €1.5B. The bank has committed to providing Ukraine with €3B in 2022-2023 to support Ukrainian businesses and the economy. At the same time, the EBRD is asking for a recapitalization of €3-5B to support Ukraine.