The European Bank for Reconstruction and Development is an international financial institution with the highest credit rating ААА. The bank was founded in 1991. Presently, the bank is owned by 64 countries, the EU and the EIB.
The EBRD has a representative office in Ukraine located in Kyiv.
The EBRD is the largest financial investor in Ukraine. As per January 1, 2015, the total investments made by the bank in Ukraine amounted EUR 10.4 bn, assigned to 344 projects.
In the course of cooperation with the EBRD (1993-2015) in the public sector of Ukraine where the Ukrainian state received loans from the EBRD or acted as an underwriter in loan agreements, the EBRD granted funds amounting USD 674.94 mn and EUR 1637.35 mn (for 25 projects). As per August 21, 2015, EUR 630.6 mn and USD 849.53 mn out of these funds have been used so far.
The goals and functions of the bank are as follows:
• Support for economic growth and transformation in the countries of Central and Eastern Europe aimed to foster their transition to open market economy and private entrepreneurship;
• Support for recipient countries in their structural economic reforms;
• Support for investments in production, services and financial sector and the relevant infrastructure; fostering economically reasonable priority projects; technical aid for the preparation, financing and implementation of projects and other.
The EBRD does not finance public expenditure; it only invests in development projects in the private and public sector.
Ukraine has been a member of the EBRD since August 13, 1992.
The Minister of Finance represents Ukraine in the Board of Governors of the EBRD.
The bank invests in various branches of economy with the exception of military industry, tobacco industry and gambling.
The current strategy of the EBRD comprises two fields: a) granting international loans with preferential conditions and state guarantees; b) granting commercial loans to private business.