The EBRD moves forward with action against Russia and Belarus.

 The Board of Directors of the European Bank for Reconstruction and Development has agreed with a management proposal to take steps in responding to the Russian-led invasion of Ukraine. Governors will have thirty days to vote on this resolution under Article 8.3 of the Articles Establishing the Bank, according to the constitution of the EBRD, which makes provision for the suspension of access of a member to Bank resources in ‘exceptional circumstances’. Separately, the EBRD is also exploring the emergency financing package for the region in cooperation with Ukraine’s partners. Included could be liquidity support for both the private and public sectors and municipalities affected by the influx of refugees. It would be a tangible symbol of support for Ukraine and other Countries of Operations caught up in the crisis.