(AGENPARL) – gio 17 novembre 2022 OFFICIAL USE
EBRD press release
EBRD and partners join forces to support global food security
Bank to invest €300 million in Solidarity Lanes by end of 2023
FOR IMMEDIATE RELEASE
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Date: 16/11/2022
Contact: Nigina Mirbabaeva
Twitter: @EBRD
Sector: Agribusiness, Food Security
– EBRD to invest €300 million by end of 2023 in Solidarity Lanes
– Bank prioritising investments in key regional infrastructure
– Financing to unblock trade with Ukraine and safeguard food security
The European Bank for Reconstruction and Development (EBRD) is supporting efforts to safeguard global food security and aid Ukraine’s economy, by investing €300 million in Solidarity Lanes.
The Solidarity Lanes, established by the European Commission and bordering countries in May, are essential routes for facilitating the export and import of Ukraine’s agricultural commodities, as well as other goods.
These serve as alternatives to routes via the Black Sea ports, which have been partially reopened, but which are not operating at full pre-war capacity.
The European Commission last week announced it has mobilised €1 billion to boost the Solidarity Lanes. The EBRD’s investment, as part of that mobilisation, reflects the Bank’s common priorities with the Commission in supporting Ukraine’s economy and access to food for countries which rely on Ukraine’s exports.
Ukraine is one of the world’s largest grain producers, and in normal times supplied around 45 million tonnes of grain to the global market every year. However, as a result of Russia’s war, Ukraine’s export and agricultural sectors have been severely impacted, which has led to rising cereal prices and global food insecurity.
As part of its commitment, the Bank is prioritising investments in road, rail and other infrastructure. These include investments and support for projects in Ukraine, Moldova, Poland and Romania.
The Bank has already supported Moldova in streamlining its transport network, with a EUR 100 million loan to improve and expand its road network up to the Ukrainian border. The Bank is now preparing to finance an urgently needed railway network upgrade, together with the Commission. The Moldovan rail network is essential to transport goods from Odessa to Ukrainian, Moldovan and Romanian river ports.
In Poland, there is a significant need for a coordinated upgrade of rail trans-shipment capacity at the border with Ukraine, and to expand Baltic Sea port capacity. To this end, the Bank has supported expansion of the Gdansk port on the Baltic Sea.
In Ukraine, investment is needed to address border crossing bottlenecks and improve connectivity with the EU. The EBRD is thus preparing a financial package to the Ukrainian Railways which will be partly invested in resolving these problems.
The Bank intends to invest €300 million by the end of 2023 in these Solidarity Lanes, part of which will go to projects already identified and in the process of being approved.
The Bank is also considering additional urgent investments in key port and railway infrastructure as well as in silo capacity expansion. It will work with the Commission as well as other international institutions such as the European Investment Bank and The World Bank Group to coordinate efforts and sustain and further increase the capacity of the Solidarity Lanes.
Overall, the EBRD is supporting trade, energy and food security, vital infrastructure and the pharmaceuticals industry in Ukraine, and has committed to investing up to €3 billion in the country in 2022-2023.
The EBRD was swift to condemn the Russian invasion of Ukraine on 24 February and pledged to stand by Ukraine. In early April, the EBRD’s Board of Governors voted to [suspend open-endedly the access of Russia and Belarus to EBRD finance and expertise](https://www.ebrd.com/news/2022/ebrd-moves-forward-with-action-against-russia-and-belarus.html), and the Bank has closed its offices in Russia and Belarus.
In addition to a resilience package for Ukraine and neighbouring countries affected by the war, the EBRD has pledged to help finance Ukraine’s reconstruction once conditions permit.