Zelensky has invited Renaud-Basso to visit Ukraine / Photo from UNIAN, by Oleksandr Kuzmin

Ukrainian President Volodymyr Zelensky has held a phone call with President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso, during which he thanked the Bank for the allocation of EUR 450 million to Ukraine for road repairs.

This was reported by the press service of the Ukrainian President's Office on December 21.

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"Active cooperation with the EBRD, the European Investment Bank and other financial institutions is important to us in terms of raising additional loan funds for infrastructure investment. And I commend the agreement signed [by the EBRD] with Ukravtodor on December 18, which will allow us to start major repairs to roads next year," Zelensky said.

Zelensky also said that the EBRD is Ukraine's largest institutional investor nowadays.

"As far as I know, this year's portfolio of the bank's projects has already reached EUR 730 million, and by the end of the year this amount may reach EUR 900 million. We are very pleased that especially during the global economic crisis caused by the COVID-19 pandemic, the Bank continues to actively invest in Ukraine and provide support to Ukrainian business," he said.

He stressed that despite the crisis, the Ukrainian banking system is stable and the budget is being implemented.

Zelensky invited Renaud-Basso to visit Ukraine.

Agreement with EBRD

On December 18, the European Bank for Reconstruction and Development and Ukraine signed an agreement on the allocation of EUR 450 million to the State Agency of Automobile Roads of Ukraine (Ukravtodor) for the reconstruction of the M05 Kyiv-Odesa highway and the construction of a bypass around Lviv.