REUTERS
The European Bank for Reconstruction and Development plans to invest nearly $ 1 billion in Ukraine’s economy, including the energy field, if the government implements reforms, according to Reuters
“Ukraine is facing tough challenges,” said Chakrabarti during a meeting with Ukrainian President Petro Poroshenko on July 2 in Kyiv, according to Ukrinform.
Chief of the EBRD emphasized the importance of coordination for determining the assistance necessary for Ukraine, adding that the Bank aims at investing nearly $ 1 billion, but this fully depends on the efficiency of the Ukrainian government in implementing reforms.
A record $ 1.2 billion was invested in Ukrainian projects in 2014 by the EBRD while only $ 10 million were received by Ukraine in 2015 as the Bank seeks reassurances in implementation of reforms.
According to Chakrabarti, loans and investments may go to the energy, banking and judicial sectors which need special attention, Reuters reports.
The EBRD, together with other international financial institutions, will meet with representatives of the Ukrainian Energy Ministry next week to discuss gas supplies loans.
At the same time, the government has yet to fulfill its pledge to split Naftogaz into separate companies that would control production, sale and transportation of fuel.
Due to banking reforms, over 50 banks were closed in Ukraine, reducing the total number of financial institutions to 114. However, the EBRD chief suggests that “there are still too many banks” in Ukraine, some of which may serve the interests of oligarchs.