The EBRD wants to invest about €1.5B in Ukraine annually.

For this purpose, the European Bank for Reconstruction and Development is working on a plan to increase its capital, EBRD President Odile Renaud-Basso said. The bank said in May that it plans to ask shareholders to raise capital by up to €5B by the end of this year.

The war, she said, is moving Ukraine away from its traditional dependence on heavy manufacturing, which Russia has targeted, to the technology and digital solutions it uses in the military industry. Energy will move towards renewable sources, and agriculture will remain an essential industry.

“We’re doing everything we can to facilitate these investments and see how we can support any development project,” Renaud-Basso said.

The EBRD has already noticed private investor interest in Ukraine. She added that the money is currently being invested to restore logistics capabilities, relocate operations, and rebuild what has been destroyed.