KIEV, November 3 (RIA Novosti) — The European Bank for Reconstruction and Development (EBRD) has decided to establish a special multi-donor fund worth 11 million euros ($13,75 million) for support of reforms in Ukraine, the Bank announced Monday.
"We are very grateful for this support from donors. This adds real impetus to the Bank’s ability to scale up its investments in Ukraine and to support it as it deals with significant economic and financial challenges. Moreover, the resulting improvement in the investment climate will attract further investment into the country,” EBRD Director in Ukraine Sevki Acuner stated.
According to EBRD, the grants were made available by Finland, France, Germany, Netherlands, Sweden, Switzerland, United Kingdom and the United States.
"Denmark, Japan and Norway are also among countries considering contributing to the fund," the statement also said.
The fund's main goals are improving the investment climate, combating corruption, stabilizing the banking sector, increasing energy security, expanding private sector competitiveness and upgrading municipal infrastructure.
The Bank has so far invested 9,5 million euros in Ukraine and is the country's leading investor.
