The National Bank of Ukraine (NBU) plans to sign the first currency swap with the European Bank for Reconstruction and Development (EBRD) this week, the NBU said on Facebook.
“Another significant event is planned for this week. The conclusion of the first currency swap with the EBRD is expected. Swap operations with the National Bank open the EBRD access to hryvnia resources, which will be used to lend to Ukrainian enterprises,” the report said.
As reported, on May 7 the EBRD and the NBU signed a $500 million dollar-hryvnia swap to increase the availability of financing in hryvnias for local companies, which were affected by the coronavirus pandemic.
It was noted that the issuance of financing in the hryvnia will limit the corresponding currency risks.
It was previously reported that the EBRD launched a program of response to the coronavirus-related crisis and post-crisis recovery. It is expected that all investments of the bank in the amount of up to 21 billion euro will be used for this during 2020-2021.
The EBRD is the largest international financial investor in Ukraine and has already committed to providing nearly 15 billion euro in 466 projects nationwide.
