Switzerland will provide assistance to Ukraine in the form of a contribution to an additional issue of EBRD shares
Photo: Ministry of Finance of Ukraine

Switzerland will finance Ukraine's contribution for the subscription of additional shares of the European Bank for Reconstruction and Development in the amount of 6.4 million euros. The signing of the relevant memorandum took place on the sidelines of the 34th annual meeting and business forum of the EBRD in London, the Ministry of Finance reported.

At the end of 2023, the EBRD Board of Directors approved a decision to increase the bank's authorized capital by 4 billion euros in order to ensure a significant and stable volume of investments in Ukraine.

Ukraine was allocated 3,227 additional EBRD shares worth 32.27 million euros.

"Subscription for additional shares will leave the existing share of Ukraine's shares in the EBRD's authorized capital unchanged. This provides an opportunity to maintain its influence when the bank makes decisions on financing Ukraine's needs in the context of the war with Russia," the Ministry of Finance explained.

According to the signed memorandum, the Swiss side will pay the first installment of 6.4 million euros for Ukraine directly to the EBRD. The funds are provided on a non-refundable basis.

Finance Minister Serhiy Marchenko thanked Switzerland for this step and support for Ukraine.

"Your contribution is a manifestation of solidarity and strong partnership between our states. Ukraine's participation in the EBRD capital is extremely important, as it opens up opportunities for investment in the process of restoring the economy from the consequences of the full-scale aggression of the Russian Federation," the Ukrainian minister said.

  • According to the Kiel Institute for World Economic Research, since February 2022, Switzerland has provided Ukraine with assistance in the amount of 935 million euros, of which humanitarian assistance – 720 million euros, financial assistance – 215 million euros. In particular, $30 million in direct budget support in the form of grants.