EBRD invests $1.3 billion in Ukraine in 2010
2011-01-25 11:41:48
The European Bank for Reconstruction and Development in 2010 provided Ukraine with $1.3 billion of investments on 28 projects, the press service of the EBRD reported.
Among the major projects signed last year in the sectors of infrastructure and energy there is a loan for UkrAvtoDor worth $450 million to finance the modernization of roads on the approaches to Kyiv, and a loan of 175 million to build high-voltage power line Zaporizhzhia-Kakhovka.
Implementation of these projects will contribute to a significant increase in the efficiency of the transport network, as well as reliability of electricity transmission.
A significant portion of investment in the corporate sector in 2010 was made in agribusiness (OJSC MHP - $50 million, Nibulon - $50 million, Noble Resources Ukraine - $24 million, Ukrainian Agrarian Farms - $20 million Astarta - 10 million).
Among other transactions in the corporate sector there are loans to packaging producer OJSC Ukrplastik in the amount of 29.8 million, the manufacturer of wood flooring Barlinek - 10 million, and distributor of pharmaceutical products Fra-M - $11.5 million.
In the financial sector, the EBRD provided a subordinated loan of $140 million to UkrSibbank, which is one of the largest private banks in the country, and also arranged for equity investments in the bank.
Continuing implementation in Ukraine of the various initiatives on energy efficiency, the EBRD, in particular, announced the beginning of the program for funding alternative energy (USELF) of 50 million, which aims to provide financing to local private enterprises for investments in renewable energy (small hydropower, wind, solar power industry, use of biomass and biogas) in Ukraine.
In addition, the Bank launched a program of technical assistance aimed at improving the energy efficiency of residential buildings in Ukraine.
The total volume of EBRD investments in Ukraine as of 31 December 2010 amounted to more than 6 billion, with about half of these investments having been made over the past three years.