The EBRD will support Ukraine with €1.5B annual contributions until the end of the war.

The European Bank for Reconstruction and Development has provided €4B in project financing across all sectors of Ukraine’s economy since the beginning of the full-scale invasion and will continue its support at the level of about €1.5B per year until the situation changes, EBRD Associate Director Anna Lebedynets said at the Grain Storage Forum.

She expressed confidence that, after the war, businesses’ financing needs would increase, as there would be a greater desire to invest in their development and because of the need to rebuild those that have been destroyed.

Lebedynets also said that the EBRD is working on a project that will allow for the insuring of goods located on Ukrainian territory before they reach areas where insurance from international insurance companies can be used.

“This type of insurance will stimulate trade financing,” the banker noted.

She said the insurance mechanism is expected to be operational by 2024.