Russian-Ukrainian conflict: European Development Bank launched a 2-billion-euro Ukrainian package

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Bank Europe for reconstruction and development on Wednesday announced a “resilience” package of two billion-euro to help citizens, companies and countries affected by war in Ukraine, including refugees who hosted.

Funding will be carried out quickly available to support Ukrainian companies, and if possible, businesses will be helped to move so that their work can continue, EBD said in a statement.

Funds, equivalent to $ 2.2 billion, will also “help in countries that are directly influenced by the inflow of Ukrainian refugees,” after at least 2.2 million people escaped the Russian invasion.

London-based EBRD was created after the collapse of communism in Eastern Europe “to build a post-cold war era”.

“We face an unparalleled crisis, but throughout our history, we have become a bank that rises to the challenge,” said President Obrd Odile Renaud-Basso.

In Ukraine, funds will be focused on the patience of debt, finance for fuel imports, emergency liquidity finance and emergency reform support.

Neighboring countries that take refugees will be helped by purchasing emergency energy to compensate for the loss of imports from Russia and allies of Belarus, money for “city services and livelihoods for displacement people” and liquidity for small and medium enterprises.

The bank said “expecting a crisis to have serious consequences for many economics where it works”.

Last week, the Obrd Board of Directors chose to take action against Russia and Belarus for the invasion, if approved by the governor, will cut their access to EBRD Finance and expertise.