Stepping up cooperation between Ukraine and the EBRD: preparations for winter, investments, business support

Oleksii Sobolev, Ukraine's Minister of Economy, Environment, and Agriculture, met with the heads of Ukraine's major investor, EBRD Vice President Matteo Patrone and EBRD Managing Director for Ukraine and Moldova Arvid Tuerkner.

The meeting focused on the following topics:

• Energy security and business support. The parties discussed preparations for winter and possible blackouts, as well as support programs for entrepreneurs. The priority is to help SMEs, especially in frontline regions, in order to preserve jobs and economic activity there.
• Privatization and attracting investment. A series of large-scale privatization auctions are planned before the end of the year. The sale of minority stakes in state-owned companies is also being considered. As noted during the meeting, this is a complex process, especially during wartime. Therefore, Ukraine counts on the EBRD's expert support, particularly technical and legal assistance in preparing assets for sale.
• Insurance of military risks. This is another important tool for attracting investment. A new budget program is currently being prepared that is aimed to compensate for the cost of premiums for businesses, making insurance more affordable. Ukraine plans to involve the EBRD in expanding this initiative.
• Dual-use technologies. Such technologies have great potential for application in civilian sectors. Together with the EBRD, Ukraine is already looking for ways to attract funding to this sector.
• Cooperation in the field of human capital. The EBRD provides advisory assistance on improving the qualifications of managers and supervisory boards in line with OECD standards. As part of its SME development programs, the Bank supports retraining and employment projects, such as the Human Capital Sustainability Charter. Work is currently underway on a comprehensive labor market reform.

"The EBRD is currently Ukraine's largest institutional investor: joint programs with the EU under the Ukraine Investment Framework have already mobilized over EUR 500 million to finance our SMEs, as well as projects to support infrastructure and war risk insurance are being implemented. We are grateful to the EBRD for its systematic support of Ukraine and will continue to work together on important projects," said Oleksii Sobolev.

Deepening the partnership between Ukraine and the EBRD will contribute to the sustainability of the Ukrainian economy in the context of war and the country's preparations for reconstruction.