EBRD could issue EUR 900 m to Ukraine in 2013 if cooperation with IMF resumed
The funding issued by the European Bank for Reconstruction and Development (EBRD) to Ukraine in 2013 could remain at the level of 2012, if Ukraine and the International Monetary Fund (IMF) agree on a new Stand-By Arrangement, EBRD Director in Ukraine Andre Kuusvek has told Interfax-Ukraine.
"If a new Stand-By Arrangement with the IMF is signed, I think, the EBRD could continue to issue funding to Ukraine next year at the level of 2012. If a new program with the IMF is not signed, it seems to me the sum might be much less," said Kuusvek.
He said the resumption of cooperation between Ukraine and the IMF would be a positive signal to foreign investors, and would encourage investment.
Kuusvek said that since the beginning of this year the EBRD has financed projects in Ukraine worth EUR 665 million.
"I hope that by the end of the year the amount of funding will increase to around EUR 900 million: the EBRD portfolio has a number of projects that could be signed by the end of the year," the EBRD director in Ukraine said.