EBRD expects to invest 1.5 billion euros in Ukraine in 2024-source

BRUSSELS: The European Bank of Reconstruction and Development (EBRD) expects to invest 1.5 billion euros ($1.65 billion) in Ukraine in 2024, a senior source at the bank said on Wednesday.

That would be on top of the 3 billion euros it set aside in 2022-2023 to support Ukraine's infrastructure and supply credit lines during the conflict. The bank deployed 1.7 billion euros of that total last year. Earlier this month, the EBRD and its shareholders agreed to increase the bank's capital base in part to support investments in Ukraine. It was only the third time the bank had made such a move since its founding in 1991.

The total capital increase will be between 3 billion euros and 5 billion euros with the final figure decided on by the year end, it said. ($1 = 0.9084 euros)