To address the economy’s current needs, the EBRD is prioritising five areas: trade finance, energy security, vital infrastructure, food security (covering the provision of liquidity to farmers via banks for the spring sowing campaign as well as to agribusiness companies and food retailers) and the provision of liquidity to pharmaceutical companies.

The EBRD was swift to condemn the Russian invasion of Ukraine on 24 February and pledged to stand by Ukraine. In early April, the EBRD’s Board of Governors voted to suspend open-endedly the access of Russia and Belarus to EBRD finance and expertise, and the Bank has closed its offices in the two countries.

As well as providing a €2 billion resilience package for Ukraine and neighbouring countries affected by the war, the EBRD has pledged to help finance Ukraine’s reconstruction once conditions permit.