EBRD opens new Ukrainian office

The European Bank for Reconstruction and Development (EBRD) has opened an office in Dnepropetrovsk in eastern Ukraine.

Business group director for southern and eastern Europe Olivier Descamps and EBRD Ukraine country director Kamen Zahariev took part in the recent inauguration ceremony.

The new office reflects the growing number of projects signed by the EBRD in Ukraine. The aim of this regional office is to increase the EBRD's project financing, and monitor the implementation of projects in eastern and southern areas of Ukraine.

As of April 2008, the EBRD had poured more than € 210mn into financing large-scale projects in the Dnepropetrovsk area. Around 30 SME projects worth over US$20mn have also been financed by the bank in the region.