Reconstruction of Ukraine –
Green light from States for a credit of 96 million to kyiv
The Upper House validated on Tuesday the contribution requested by the government to support the country at war. National’s opinion is awaited.
Published today at 2:29 p.m.
The European Bank for Reconstruction and Development, which centralizes state contributions, has paid more than 91 million euros in aid to Ukraine.
AFP/Genya SAVILOV
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Switzerland must strengthen its support for the reconstruction of Ukraine. The Council of States accepted on Tuesday a commitment credit of 96.11 million francs requested by the Federal Council for participation in the capital increase of the EBRD.
The European Bank for Reconstruction and Development (EBRD) is the main institutional investor in Ukraine, said Franziska Roth (PS/SO) for the committee. While 91.97 million euros will actually be paid, the rest will constitute reserves for exchange rate fluctuations.
The EBRD business model
Given the EBRD’s business model, each euro of additional capital will generate approximately six euros of loans. Thus, Ukraine will benefit from capitalization to the tune of some 24 billion euros in total until 2032.
The Council of States gave its approval by 36 votes to 2. It also accepted by 21 votes to 19 that the bank extends, in a limited and progressive manner, its activities to sub-Saharan Africa and Iraq. The National has yet to decide.
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