RIYADH: The European Bank for Reconstruction and Development has boosted its trade finance proposal for Ukraine by €100 million ($106 million) to support the country’s trade and food security.
With the latest increase, the total amount directed to Ukraine under the EBRD’s Trade Facilitation Program reached €330 million, which is a rise of over 40 percent since the war outbreak on Feb. 24.
The aid is part of the EBRD’s €1 billion activity that it undertakes in partnership with donors and other partners this year, it said in a statement.
Part of the raise is focused on food security in a bid to head off a global food crisis during autumn and next year.
This happens amid Ukraine’s struggle with the economy following its invasion by Russia.
