European bank announces $2.2B finance package for Ukraine

By Gokhan Ergocun

ISTANBUL (AA) - The European Bank for Reconstruction and Development (EBRD) on Wednesday unveiled a finance package worth €2 billion ($2.2 billion) for Ukraine.

The "resilience package" will be used for helping citizens and companies affected by the Russia-Ukraine war.

"The Bank has also pledged to do all it can to help with the country’s reconstruction, once conditions allow," the statement read.

EBRD President Odile Renaud-Basso said: "Our shareholders have given their full support to this package, and our staff are already working on the ground to implement these steps.

"We are facing an unparalleled crisis, but throughout our history, we have been a Bank that rises to the challenge. The people of Ukraine have our complete backing."

At least 474 civilians have been killed and 864 others injured in Ukraine since Russia launched a war against its neighbor, according to UN figures, with the real toll feared to be higher.

More than 2.1 million people have fled Ukraine to neighboring countries, according to the UN refugee agency.