The EBRD suffered almost 600 million euros in losses in Ukraine
Kyiv, February 28 (PolitNavigator, Vasily Ablyazimov) – The European Bank for Reconstruction and Development published a message in which it indicated that in Ukraine in 2014 it suffered 568 million euros in losses. The bank provides loans and owns shares in companies. It has reserves of 7,9 billion euros, it is reported German economic news.
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The publication writes: “The European Bank for Reconstruction and Development (EBRD) suffered losses in Ukraine in the amount of 2014 million euros in 568 due to the economic recession and the war in the east of the country.”
A year earlier, the EBRD not only did not incur losses, but made profits in Ukraine amounting to about one billion euros. This year, the bank expects Ukraine's economy to shrink by another 5%.
The head of the EBRD's external relations department, Anthony Williams, said that the economic situation in Ukraine remains extremely difficult. In Ukraine, the bank is involved in the modernization of the gas network.
The EBRD not only issues loans, but also owns shares in companies. Thus, the bank intends to take part in the Hungarian subsidiary of Erste Group, which does business in Ukraine. The EBRD wants to get 15% of the Hungarian subsidiary.
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