Zelensky calls on EBRD to finance infrastructure projects, join privatization process

Ukrainian President Volodymyr Zelensky has called on the European Bank for Reconstruction and Development to continue cooperating with Ukraine on financing infrastructure projects and to join privatization.

This issue was discussed during Zelensky's phone call with Acting President of the EBRD Jurgen Rigterink and Vice President of the EBRD Alain Pilloux, according to the presidential press service.

"First of all, I mean the construction of roads, railway infrastructure and river transport. The Ministry of Infrastructure and Ukravtodor are working to sign an agreement for 450 million euros by the end of the year, which will help start the reconstruction of roads next year," Zelensky said.

He also spoke about preparations for the privatization of large state-owned companies and invited the EBRD to join the process. In particular, he said that the first auction for the privatization of the Dnipro Hotel was transparent and successful and the state managed to get a record UAH 1.1 billion.

"We will actively move in this direction and we also count on the support of the Bank," Zelensky said.

He recalled that the EBRD's project portfolio in Ukraine amounted to EUR 1.1 billion last year. He also expressed hope for even more dynamic cooperation this year.

According to him, the global COVID-19 pandemic raises the question of the need to finance public and private sector companies and maintain their liquidity.

Rigterink, in turn, welcomed important reforms in Ukraine, noting, in particular, the fight against corruption, the adoption of laws on concessions, the land market, privatization, the banking law, as well as the appointment of the new governor of the National Bank of Ukraine.

He emphasized the successful placement of Eurobonds in Ukraine, the signing of a new loan agreement with the European Union and continued cooperation with the International Monetary Fund, as well as reforms in corporate governance of state-owned enterprises and banks in Ukraine and ensuring transparency in the appointment of members of supervisory boards.

Rigterink said the EBRD was ready to provide Ukraine with even more support during the crisis and has already invested more than EUR 300 million in Ukraine this year.

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