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Saturday, March 24, 2018

Ukraine to receive $3.6 billion from European Investment Bank

The National Bank of Ukraine (NBU) announced Thursday that the European Investment Bank (EIB), one of the world's biggest lenders, will provide Ukraine with up to approximately $3.6 billion--double the amount previously extended--to support projects in various sectors.

The announcement was made at a meeting between an EIB team headed by Vice President Wilhelm Molterer and a Ukrainian delegation led by Oleksandr Shlapak that was held as part of the annual board meeting for the European Bank of Reconstruction and Development (EBRD).

The two sides discussed progress in implementing nine ongoing EIB projects in Ukraine, as well as future prospects for infrastructure, transport, agriculture and energy, and programs aimed at helping small and medium-size businesses.

Molterer said the EIB would visit soon visit Ukraine to discuss current projects and ideas for new program, especially those that could be implemented through the country's central bank's division of international credit line management.

NBU Governor Stepan Kubiv said he was grateful to the representatives of the EIB, the EBRD and the European Commission for their trust in Ukrainian authorities and their support for ambitious economic reforms.