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EBRD cuts investment in Ukraine by 60% in 2016

Staff Writer | November 30, 2016
The European Bank for Reconstruction and Development (EBRD) will invest EUR 400 million in Ukraine in 2016, bank president Suma Chakrabarti said at a meeting with Ukrainian Prime Minister Volodymyr Groysman.
Suma Chakrabarti
Investing   Suma Chakrabarti:
"In 2016 the bank will invest EUR 400 million in Ukraine, and next year this amount could be increased. In particular, the EBRD will focus on reforms at ministries and departments to strengthen and develop their institutional capacity," a government press release reads.

As reported, in 2015 the bank exceeded the threshold of EUR 1 billion in investment in Ukraine.

EBRD Managing Director for Eastern Europe and the Caucasus Francis Malige in mid-February 2016 expressed hope such a volume of funding could be maintained in 2016.

"This is our "investment capacity," we can invest about as much in Ukraine, but success will depend on the coordinated work of all the branches of power and the availability of reforms.

"Otherwise, it's not worth expecting active work. This does not mean the bank is going to curtail its activities, but the volume, of course, will suffer from that," he said.