EBRD Vows to Invest Heavily in Ukraine

President of the European Bank for Reconstruction and Development (EBRD) Jean Lemierre said Sunday the bank plans to invest heavily in Ukraine.

The EBRD annually invests 1 billion U.S. dollars in Ukraine. This is the level at which the EBRD invested in Poland 15 years ago, Lemierre told a news conference held jointly with Ukrainian Prime Minister Yulia Tymoshenko in Kiev.

Lemierre said the EBRD's interest covers the private sector, banking, and small-and- medium-sized businesses in Ukraine.

He stressed that the EBRD is interested in investing in the Ukrainian energy sector, including energy-saving projects, saying the EBRD is extremely satisfied with the work done by the Ukrainian government in the energy-saving sector.

The EBRD also invested in transport infrastructure, agriculture, food production, and municipal economy at the local level.

The EBRD began its annual meeting Kiev on Sunday to discuss the impact of global economic turmoil and soaring food prices in the former Soviet countries.

Source: CRIEnglish