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Ukrainian transport and logistics companies will receive support from the EBRD to maintain their exports

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Last week, Ukraine decided to officially close the four ports on the Black Sea and the Sea of ​​Azov that had been captured by Russian forces.

“The ports of Mariupol, Berdiansk and Skadovsk on the Sea of ​​Azov, as well as the port of Kherson on the Black Sea, are closed until control is restored,” the Ukrainian Ministry of Agriculture said.

Ukraine, a major world agricultural producer, used to export its products through the ports of the Sea of ​​Azov and the Black Sea, but after the Russian invasion, it was forced to use the railway on the western border. Several officials from the Ministries of Agriculture and Transport of Ukraine have announced that the neighboring country wants to increase its export capacity of the Danube ports, in order to allow the cereals to reach the Romanian ports on the Black Sea.

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The EBRD intends to provide a financing line to the Ukrainian railway company UZ to help it stay afloat and export more Ukrainian goods, Matteo Patrone told Reuters at the annual meeting of the European Bank for Reconstruction and Development.

“We are working with transport and logistics companies to see how we can support them with financing lines.” The initiative includes the Ukrainian Post, other public and private sector companies, as well as municipalities, the EBRD official said.

Discussions between the EBRD and the Ukrainian Ministry of Infrastructure are looking at ways to modernize the transhipment infrastructure, Patrone said.

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She added that the EBRD is in the preliminary stage of negotiations on the financing lines needed to help Ukraine’s neighboring states cope with the disruption of Russian gas supplies.

“We are also discussing with the Ukrainian energy company Naftogas the granting of a financing line,” he added.

To support the Ukrainian economy, the EBRD plans to spend one billion euros this year.

European Commission Vice President Valdis Dombrovskis estimates the cost of war damage to Ukraine at 500-600 billion euros.

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