OREANDA-NEWS. On October 06, 2008 The European Bank for Reconstruction and Development (EBRD) announced plans to invest EUR 1 billion into Ukraine's economics by late 2008, according to Director of the EBRD Office in Ukraine Andre Kuusvek.

He specified that at the same time an overall volume of loans the EBRD granted to Ukrainian economic entities will reach EUR 4 billion, while a total volume of investment projects being financed with the participation of the EBRD, will be EUR 6 billion.

Kuusvek also said the bank does not finance the projects related, in particular, with gambling business and trade in arms. "As for the rest we are ready for cooperation to develop various economic branches," he underscored.

The EBRD is Ukraine's largest financial investor. As of August 2008, it undertook to provide with investments at more than EUR 3.2 billion within 172 projects.