The European Bank for Reconstruction and Development (EBRD) has established a multi-donor fund to support Ukraine’s efforts to reform its economy, improve its business climate and return to a path of sustainable growth.
The bank said this in a press release on Monday, Deutsche Welle reported.
“Grants to the EBRD-Ukraine Stabilization and Sustainable Growth Multi-Donor Account (MDA) were made available by Finland, France, Germany, Netherlands, Sweden, Switzerland, the UK and the U.S. Denmark, Japan and Norway are also among countries considering contributing to the fund,” reads the press release.
The funding will be used to improve the investment climate and combat corruption, stabilize the banking sector, increase energy security, expand private sector competitiveness and upgrade municipal infrastructure.
EBRD Director for Ukraine Sevki Acuner said that support from donor countries for reforms in Ukraine would improve the investment climate in Ukraine and attract new investors.
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