Industry

EBRD unveils €2 billion resilience package in response to the war on Ukraine

The European Bank for Reconstruction and Development (EBRD) has announced an initial €2 billion resilience package of measures to help citizens, companies and countries affected by the war on Ukraine. The Bank has also pledged to do all it can to help with the country’s reconstruction, once conditions allow, APA-Economics reports citing EBRD.

Funding will be made rapidly available to support Ukrainian companies– for example, with deferred loans, liquidity support, and trade finance. Where possible, businesses will be helped to relocate so their work can continue.

In addition, the Bank’s Resilience and Livelihoods Framework will help in countries directly affected by inflows of Ukrainian refugees. Women, children and the elderly make up the majority of displaced citizens, and municipal authorities face huge challenges in managing the influx of people.

This package was endorsed today by the Bank’s Board of Directors and represents a first round of support. The EBRD had previously declared its unwavering support to Ukraine and its people, and condemned the aggression by the Russian Federation and Belarus.

Source: Azeri-Press News Agency