EBRD Supports Dnipro City with €25 Million Loan for Essential Services Amid Refugee Influx

EBRD Supports Dnipro City with €25 Million Loan for Essential Services Amid Refugee Influx

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has provided a €25 million loan to Dnipro City in Ukraine to support the continuous provision of vital municipal services. Dnipro, Ukraine’s fourth-largest city, has experienced an influx of refugees due to the war with Russia. The loan will help bridge the economic gap and enable the city to maintain essential public services amidst the challenging circumstances. This financing follows the EBRD’s commitment to supporting Ukraine’s real economy and its pledge to provide €3 billion in finance by the end of 2023. Dnipro’s participation in the EBRD Green Cities program highlights its commitment to sustainability.

(PRESS RELEASE) LONDON, 4-Jul-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, has approved a €25 million loan to support the city of Dnipro in south-eastern Ukraine. This financing will ensure the uninterrupted provision of essential municipal services in the city, which has experienced an influx of refugees due to Russia’s war on Ukraine.

With a population of approximately one million people, Dnipro is Ukraine’s fourth-largest city. The ongoing conflict has led to a significant increase in internally displaced persons seeking refuge in the city, drawn to its role as a major economic center in south-eastern Ukraine.

The war has severely impacted Dnipro and its key municipal utilities, making it challenging to maintain day-to-day operations. The emergency funds provided by the EBRD will help bridge the gap created by the country’s difficult economic situation, as local lenders are unable to offer medium-term financing. This loan will enable the city to continue delivering crucial public services to its growing population.

Dnipro is the second city to receive liquidity support from the EBRD in recent months, following Lviv at the end of last year. As Ukraine’s largest institutional investor, the EBRD has demonstrated its commitment to the country’s development. In 2022 alone, the bank deployed €1.7 billion and mobilized an additional €200 million in support from partner financial institutions. By the end of 2023, the EBRD has pledged to provide Ukraine with a total of €3 billion in financing.

The EBRD’s primary focus in Ukraine is to support the “real” economy, including maintaining energy and food security, supporting trade, vital infrastructure, and the private sector. In response to the Russian invasion, the EBRD swiftly condemned the act and closed its offices in Russia and Belarus.

In June 2021, Dnipro became the 49th member of the EBRD’s flagship urban sustainability program, EBRD Green Cities, further highlighting the city’s commitment to sustainable development.

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Email: press@ebrd.com

SOURCE: EBRD