20-11-2023
Lithuania signs the agreement with the EBRD to allocate EUR 1 million to Ukraine
Today, the agreement was signed between Minister of Finance Gintarė Skaistė and Vice President of the European Bank for Reconstruction and Development (EBRD) Mark Bowman, whereby Lithuania contributes EUR 1 million to the EBRD Fund for Support to Ukraine.
“Lithuania contributes to many international initiatives aimed at mobilising financial support for Ukraine at war. In view of the EBRD’s significant role in this process, the Government decided to contribute EUR 1 million to the Bank’s Fund specifically dedicated to address the social consequences of the war in Ukraine. In addition to military and budgetary support, it is important to ensure the basic needs of internally displaced persons and to expand the opportunities for war victims to return to the labour market”, stressed Minister G. Skaistė.
The aim of the EBRD Action for Equality and Gender Fund's Ukraine programme,to which Lithuania contributes, is to create an inclusive business environment in the country and to develop human capital, thus creating employment opportunities for war veterans, disabled persons and other persons affected by the russia’s war in Ukraine. The programme also provides psychological support to these persons.
Lithuania is a third country donor that has contributed to the Fund, as earlier contributions to the Fund were made by Japan and Taiwan. Lithuania is expected to transfer funds to the Fund by the end of 2023.
Since the beginning of the russia’s war against Ukraine, the EBRD has invested more than EUR 3 billion in the country’s economy and foresees further investments in energy security, restoration of vital infrastructure, food security, trade and the private sector. In May, EBRD shareholders agreed that additional shareholder support in the form of paid-in capital would be needed in order to enable the Bank to maintain significant and sustained levels of investments in Ukraine. Last week, the Board of Directors of the EBRD recommended to Bank’s Governors to approve a capital increase of EUR 4 billion.
Mark Bowman said: “Supporting human capital development and equal opportunities for all is a key priority for the EBRD in its work throughout its regions. This is particularly true in Ukraine, where the war has had a devastating impact on many groups, including women, children and people with disabilities. We appreciate Lithuania’s strong cooperation and contribution, which allows us to continue promoting human capital development and resilience in Ukraine. We’re very proud of the support the Bank has already given to war veterans in Ukraine, and we are committed to helping other affected groups further.”
Lithuania’s economic situation and cooperation with the EBRD were also discussed during the meeting. The EBRD investments in Lithuania amounted to EUR 208 million in 2022 and have focused on strategic goals of the country such as strengthening energy independence and increasing economic resilience.