EBRD will invest up to 3 bln euros in Ukraine by end-2023

LONDON, Oct 24 (Reuters) - The European Bank for Reconstruction and Development (EBRD) said on Monday it will commit up to 3 billion euros to Ukraine over 2022 and 2023 to help shore up the war-torn country's businesses and economy.

The lender said it had committed more than 1 billion since Russia invaded Ukraine on Feb 24 and it was aiming to triple that by end-2023, focussing on channelling funding towards maintaining energy and food security, restoring rail infrastructure, and supporting the pharmaceutical industry.

Discussions were underway to scale up funding for urgent repairs of the electricity grid and support municipal authorities in Kyiv, Lviv and Dnipro, the EBRD said in a statement.

Reporting by Karin Strohecker, editing by Alun John

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