The First Vice-President of the Government, Nadia Calviño, has signed an agreement with the European Bank for Reconstruction and Development (EBRD) under which Spain will provide guarantees worth 100 million euros to help municipalities and strengthen food security in Ukraine.
The agreement was formalized in the framework of the spring meetings of the International Monetary Fund, the World Bank and the G20, which are being held this week in Washington. In the margins of these meetings, the Vice-President met with EBRD President Odile Renaud-Basso.
The First Vice-President is attending the Washington meetings in her capacity as Chair of the International Monetary and Financial Committee (IMFC), the governing body of the International Monetary Fund's policies.
Spain has provided financial assistance to Ukraine through various instruments such as the World Bank, the European Union and, with this agreement, the EBRD. Spain's contribution to the European Peace Fund, an instrument of the European Commission, amounts to 320 million euros.
Since the beginning of the war, Spain has taken in more than 170,000 Ukrainian refugees and provided them with health and education services.
Protecting food security and municipal facilities
This agreement will help accelerate investments that boost agricultural production and protect the agricultural value chain in Ukraine and other affected countries, addressing the risk of food crises and ensuring the maintenance of staple food supplies.
In addition, the agreement will facilitate the provision of emergency liquidity to municipalities with the greatest budgetary difficulties and the uninterrupted supply of essential services such as heating, water, sewage, solid waste and public transportation. This support will help preserve livelihoods and essential public services for Ukrainian citizens.
EBRD mission in Ukraine
The European Bank for Reconstruction and Development has committed 3 billion euros in financing over the period 2022-2023 with international donors to help sustain Ukrainian businesses and the Ukrainian economy. The bank has operated in Ukraine for three decades and is the country's largest institutional investor.