we can react, not in the most pleasant way, the threat from the european bank for reconstruction and developmentcaused a palace coup in the leadership of the largest. the ukrainian monopoly in april 2021 was replaced by andriy kobolev, who headed the naftogaz of ukraine after maidan 2014, by acting minister of energy yuriy vitrenko, the united states did not directly insist on the return of koblev, but during a visit to kiev , secretary of state anthony blenkin made it clear that this was a bad signal and potential harm to the international image of ukraine in avtograd was traditionally called uh, well, the presidential business in ukraine, that is, this well, big incomes are what battles were fought between the west, there and ukraine control over naftogaz at his post. the head of nafta gas began to change the composition of the company's council and monopolize the market. in particular one of the tasks was control over the daughter of naftogaz ukrnavta igor kolomoisky, however, it is unlikely that this can take kolomoisky by surprise, he faced something similar after the maidan euro late in ma

for sure what the drop may be. during this year, no one can, regardless of which institution it is. is it the world bank? is it the international monetary fund ? is it the european bank for reconstruction and development or any expert institution? the main thing we don’t know about forecasting is when exactly peace will come to ukraine, and we can talk about the state of the economy from the point of view of and the fall, why is it important to know, or immediately after the fall occurs, but after the peace comes immediately, the trajectory of the movement of the ukrainian economy begins to change, and the change begins quite sharply and begins quickly enough recovery and all the measures that are currently being taken and plans are being discussed regarding our post-war revival, they are precisely related to how it will happen, that is, to say that we fell, we fell in the first quarter by about 15% , in the second quarter the fall will be at least the same 15% , but it is also true that if this continues until the end of the second quarter, i mean the state of war in our country will continue and russia will continue its aggression against us, then we will have a decline, but again the question after

supervisory boards at state-owned enterprises was largely pushed through by the european bank for reconstruction and development of ukraine regularly receives loans from it in an amount no less than from the imf, among the bank's clients, not only ukrainian railways. well, ukrpota harmang naftogaz, ilyichevsk port of ukrenergo. moreover, all these loans are supported by very specific obligations, for example, they interfere with the authorities in corporate governance. state-owned enterprises will attempt to revise relations with corporate governance and nafta gaza advice to us, we can respond, not in the most pleasant way, the threat from the european bank for reconstruction and development caused a palace coup in the leadership of the largest ukrainian monopoly in april 2021 in place of andriy kobolev, who headed ukraine's naftogaz after maidan 2014 acting minister of energy yuriy vetrenko came, but the united states did not directly insist on returning to kobolev , but during a visit to kiev, the secretary of state anthony blenkin made it clear that this is a bad signal and potential harm to the internationa

but one organisation that's already looking at how it can help is the european bank for reconstruction and developmentbrd. it was set up to help rebuild central and eastern europe after the fall of communism in russia 30 years ago. so i've come to its headquarters here in london to catch up with its president. 0dile renaud—basso. thank you so much for your time. much appreciated. 0dile, can we start with this — just for viewers around the world and perhaps the uninitiated? can you can you explain what the ebrd does? so the ebrd is a multilateral development bank with the government. as a shareholders, we have more than 70 countries being shareholders of the bank. and we've been created in 1991 following the collapse of the soviet union in order to support the private sector and the transition of communist countries to world market economies. and so we finance projects. we expand loans to clients in the private sector, a bit of our activity also in the public sector, for example, in key infrastructure that will be important for the development of the market economy, private sector companies and so fort

with the advice of naftogaz, not in the most pleasant way, the threat from the european bank for reconstruction and development caused a palace coup in the leadership of the largest ukrainian monopoly in april 2021 andriy kobolev, who headed ukraine's naftogaz after maidan 2014, was replaced by acting minister of energy yuriy vitrenko, but the united states did not directly insist on returning to kobolev, but during a visit to kiev , secretary of state antonin made it clear that this was a bad signal and potential harm the international image of ukraine was traditionally called in an autograph , well, the presidential business in ukraine ukraine for control over naftogaz at his post. the head of naftagaz began to change the composition of the company's council and to monopolize the market. in particular , one of the tasks was control over the daughter of naftagazakh ukrnavta igor kolomoisky, however, it is unlikely that this can take kolomoisky by surprise with this, he faced something like this even after the maidan euro late in march 2015, near the office of ukrnafta, at that time the governor of the dneprop

for us, let's bring in b. yeah, watch it. and the chief economist at the european bank for reconstruction and development, they released that report to joins as from mary cache. the other, thanks so much for being on this news our, the economic why impacts of this war a widespread as we just heads? let's look at ukraine, 1st of all, what does a contraction of 30 percent look like in a practical sense for the people that remain there it is. why would you know, take that ukraine was a low income country already prior to the war for per capita income was at the level of $110.00 of g d, p per capita in the united kingdom. the water has to worsen infrastructure. the estimates now estimate destruction to be at the order of $200000000000.00. that's more than device us and you will pre called the ukranian g d p. we know that military activities at some point during this war, took place at the territory of ukraine. that was responsible for generating 60 percent of the national income. we know that about a 3rd or a half of firms stopped functioning and electricity consumption, which tends to be a very good indicator for economic activity, i

of the war, and here it involves world business, as well as financial institutions, the world bank, the international monetary fund and the european bank for reconstruction and development, as well as the strength of their capabilities and individual countries, including finland, its prime minister sana marin announced today an additional over 70 million in financial aid and the supply of weapons ukraine, we must stop financing putin's war machine and increase aid to ukraine. today , here we are trying to find ways to provide more financial aid to ukraine, as well as to increase support for weapons and humanitarian aid by all possible means. signal and specific projects, we are already preparing a large-scale plan for the recovery of ukraine after the war and we need a strategic international support plan for ukraine that will president volodymyr zelenskyy addressed the participants of the donor conference with a modern analogue of the historical plan of the march. and prime minister denys shmyhal, who represented ukraine at the conference, said that at the conference it was already possible to mobilize 6.5 billion dollars for the reconstruction of ukraine, support the

effective and will become an impetus for the growth of some regions, such predictions were made during the annual meeting and business form of the european bank for reconstruction and developmentre, something to temporarily fix bridges , roads and companies that were significantly affected by the russian invasion of the hebrews mean that they see that ukraine is making colossal efforts to defend the country and not only ours. let's be firm in this understanding, because now we are fighting for the entire civilized world. well, accordingly, they must ensure that the private sector or state companies that have suffered but remain in the economy are left not only half-baked and barely alive, but also able to hire people to pay her salary and taxes for which, once again, to rebuild the destroyed with money. deputy chairman of the committee of the verkhovna rada of ukraine on the organization of state power, local self-government, regional development and urban planning of ukraine, we welcome you, mr. oleksandr , for a very long time. good evening. glory to the armed forces of ukraine and all the people who defend the country and protect us and help us get closer to victory. glory,

european commission dombrovskis during the forum in marrakesh, he announced that the eu is already working on the creation of a solidarity trust fund for ukraine provided the european bank for reconstruction and development with a guarantee of eur 50 million so that it could support ukrenergo dombrovske , he noted that reconstruction will require coordination of the international community and the european union is ready to ensure this coordination, we are working on ukraine's macro-financial transition of 600 million euros, but we must continue to coordinate our actions with the international community for short-term financing of ukraine, it needs about 5 billion euros every month, for this, international and european financial institutions need to mobilize. about the long-term perspective of the re of ukraine after the war, we cannot yet assess it, the pickling continues, but if we count in on average, it is 500-600 billion euros, so now we are working on a trust background for ukraine and we are already thinking about post-war recovery five six hunters will convince the eu countries to grant ukraine the status of a candidate for joining the european union, the president of poland duda said this, he no

institutions, in particular, he spoke about the international monetary fund, the european bank for reconstruction and development, all these structures actually assess the needs of ukraine and agree with the needs with the daily needs of financial financial support of ukraine and will provide such support is also another direction that the prime minister talked about today is the so-called sister cities or sister countries of certain regions of ukraine, and some countries have already taken over certain regions there, for example, where odesa , for example, greece will be taken care of, many regions expect such and such care. that is, this is another direction. well, it is clear that the president of the president zelenskyi announced the creation of a special fund that will accumulate financial and other humanitarian support from international partners around the world, because the financial stability of our country is very important for everyone our partners because when the war is over and ukraine will win this war after victory we will need strong economic conditions to start the rapid recovery of our territo

european, central asian and north african countries to revert back to levels. same before the pandemic. the anti yet vo chic is the chief economist and european bank for reconstruction and development, which relates to that report. she explains the forecast. it was no tank bed. ukraine was a low income country already prior to the war for its per capita income was at the level of one pence of g d, p per capita in the united kingdom. the war has worsened infrastructure. the estimates, now rum estimate destruction to be at the order of $200000000000.00 . the longer the hotel a t escalate, the bigger damage to ukraine. you income, the higher the likelihood that refugees who are outside of the country. and that's about 10 percent of the population that they would not go back to ukraine. people who tend to these their country are often more inter printer real. they often are younger, have more education. so that will be a substantial loss of human capital in the much for cost. we were very optimistic about the war being older with a 2 to 3 months. now, our forecasts are catching up with the reality. we assume that the war will continue well into the summer, and that means greater disrup

money for all this i i think that there is absolutely and it must be done urgently and in the international policing of three structures, such as the european banks for reconstruction and developmentfinancial corporation, which is part of the world bank group, therefore, accordingly, they have experience of already working with companies, they have experience of working with business, they are in principle. this procedure has been worked out, so i am more than convinced that if western partners do not trust our banks despite the fact that your banks work completely inadequately, if we trust ours, then there are international institutions such as the international financial corporation of the world bank, such as the hebrews, who absolutely can quickly give support money to our farmers. thank you for the last , i just wanted to briefly clarify what the situation is with diesel fuel and the rest of the fuel and lubricant materials of our farmers, yes, because there is a problem. well, the civilian population in general ukraine has felt extremely strongly when we are, and especially now the completion of spring field work in the north of our region, chernihiv , sumy, kyiv, and so on,

i read that the european bank for reconstruction and development has slightly worsened its forecast of ukrainian economy due to the war already 30 percent at the end of march, this forecast was still 20%. the bank's website says that the bank predicts a 25% recovery of the ukrainian economy in 2023, compared to the previous forecast in 2023, that is, they increased the forecast of recovery by only two points, but the forecast of the decline decreased by as much as 10 points, which is interesting what does this mean, let's ask oleksandr kramarenko, we congratulate you, gentlemen, good day, oleg, let's start with you, here are the forecasts, should we pay attention to them and can they coincide with the real picture look, the longer the war continues, the greater the damage ukraine receives, the more blows are inflicted on its economy, this is clear , we have a state budget deficit of 5 to 7 billion dollars minus every month. that is, we must understand that er undoubtedly, under those forecasts, look , there is one meaning to those forecasts, foreign investors who make decisions about t

tom: the european bank for reconstruction and development commits one billion euros in aid to ukrainel be joined by the president to discuss how the bank is reacting to the fallout of the war. ♪ francine: welcome back to the open. we are 54 minutes into the european trading day. still seeing pressure, we opened about .8 percent lower, now european stocks are down half a percent. concerns about global growth and china, central banks moving inflation, mr. blankfein of goldman sachs saying we could look at a recession in the u.s. tom: an interesting call from j.p. morgan, they are upgrading some china internet stocks to overweight. this is the same team that put out the note saying chinese tech was essentially on investable, -- uninvestable, which we then found out was a mistake in terms of publication. significant uncertainties remain, but they should start to abate on the back of certain regulatory announcements. francine: u.s. futures also with a downward trend. the g7 wednesday will give us an indication of what could go right or wrong in the economies. on the u.s. board, the futures

supervisory boards at state-owned enterprises was largely pushed through by the european bank for reconstruction and developmentives loans from it in an amount no less than from the imf, among the bank's clients, not only ukrainian railways. well, ukrposhta oschadbank naftogaz or chovsky, the port of ukrenergo. moreover, all these loans are fully backed. specific obligations, for example, are the intervention of the authorities in corporate governance.

the world bank and european bank for reconstruction and development have creased to prove banking for russia in 2014. since the invasion, these institutions are preventing russia and belarus access to financial. rapid i.m.f. and world bank assistance has led ukraine to pay salaries for civilians, soldiers, doctors and nurses while meeting an external debt. it will be critical partners in rebuilding ukraine and will provide support for neighboring countries helping refugees. there are heightened vulnerabilities in countries that are facing higher debt burdens as they recover from covid-19. this will play a critical role in several years, food security. together russia and ukraine accounts for nearly a third of the world's wheat's exports. the invasion disrupted the food and caused prices to spike. the security funds are working to address both the short-term and long-term effects of the invasion on global food prices and supply. second, energy security. the invasion of ukraine has underscored the need for sustainable, clean and secured energy for economic growth and security for the un

for economic support of ukraine. the european commission just recently announced 9 billion euros of additional additional macro-financial support for the european the bank of reconstruction and development announces more than 3 billion dollars, but these amounts are not enough , president zelenskyi said that every month the budget deficit in ukraine is approximately 5 billion dollars, the minister of finance serhiy marchenko mentions the figure when talking about urgent expenses for april, may and june, according to the estimates of various institutions from the national bank to the kyiv school of economics, the loss of physical capital in ukraine already exceeds 92 billion dollars, the loss of physical infrastructure is more than 97 billion 20% of our gdp was produced in the occupied territory, today approximately 25-30% of agricultural land is under occupation, according to state authorities, the state budget for march fell by 24%." how to estimate the scale of our losses and what we can forecast for the future. what should be expected from the global marshall plan for ukraine, how to punish the enemy, achieve russian reparations and use the already confiscated resources of russia for