EBRD to reduce investment in Ukraine in 2016
President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti says that Ukraine's political impasse has paralyzed decision-making in the first quarter so the Bank will invest less in the country this year, according to Reuters.
"This year, I don't think we'll get anywhere near 1 billion euros because, frankly, the political situation in the first quarter of the year meant that no decisions were being taken and we're only now getting going," Reuters quoted Chakrabarti as saying.
Earlier, the EBRD President stated that the final volume of financing planned for this year would largely depend on the implementation of reform in the country.
The EBRD is the largest international financial investor in Ukraine. The EBRD financing in Ukraine reached EUR 2.2 billion in 2014-2015.