The European Bank for Reconstruction and Development is not going to reduce the portfolio of projects in the public and private sector, but calls the determining factor in this respect the position of the investors and the government of Ukraine to counteract corruption and improve the business climate, EBRD Director in Ukraine Sevki Adzhuner stated.

"The EBRD is working in Ukraine to support the country. There are tasks that do not change over the last 20 years. And we consistently perform these tasks. Even in the most difficult times - the last 4 years - EBRD has invested in the Ukrainian economy up to a billion euros a year," Adzhuner said.
According to him, the Bank does not cut funding. "We do not reduce funding, we follow the investor. We act as a catalyst of investments. In this context, it becomes obvious that the reduction or, on the contrary, increased funding directly depends on the behavior of investors," the EBRD director said.

He stressed that a key factor in the selection of projects and their financing is investment demand. "If we see an increase in investment demand, of course, we follow this trend. However, the increase in demand is reasoned not by a numeric percentage (GDP growth. - Ed.), but by the real potential of an industry," Adzhuner said.

Earlier, the director of Local Currency and Capital Markets Development department André Küüsvek stated that the financing of projects in Ukraine by the European Bank for Reconstruction and Development (EBRD) in 2013 compared with the previous year will be reduced by 30%, unless there is more stability in the economy of the state and continued cooperation with the IMF.


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