The European Bank for Reconstruction and Development (EBRD) invested EUR 830 million in Ukrainian projects in 2011, EBRD Director and Country Manager for Ukraine Andre Kuusvek has said.

"We have had the pace of financing since 2008 at about one billion euros annually. Sometimes it was higher and sometimes lower, but projects worth about EUR 1 billion are signed every year. This year, we have currently signed EUR 830 million [worth of projects], and it means that there are some projects that are at the final stage of preparation. And, perhaps, by the end of the year, this amount will again reach EUR 1 billion," he said.

Kuusvek noted that in 2011 there were more projects in the corporate sector. "In other words, mainly industry and agriculture, and the number of such projects was much greater than last year," he said.

The EBRD's senior banker, Alexander Pavlov, said that the size of the bank's investment in Ukraine's financial sector in 2012 would reach USD 200-300 million.

"About a third of that amount is trade financing, and the rest are the lines of medium-term lending to small- and medium-sized businesses and the financing of energy efficiency projects," he said.

Pavlov said that the total amount of funds, which the EBRD will invest in Ukraine - about one billion euros - should remain at the same level next year as in the current year.

"There will definitely be no significant reduction. An operational strategy will not change. We see no reason to change anything, because our task is to finance private business, which will require huge resources. As commercial banks will apparently continue to lend very weakly, then the demand for our funding will only increase. Therefore, we see no need to cut [the funding], and we would be happy to invest more. It all depends on how positive or negative the situation in the economy is," he added.

Ukrinform