On a standalone basis, Q4 FY26 revenue increased 8.5% QoQ to Rs 2,260 crore, while EBITDA rose 7.2% QoQ to Rs 610 crore, translating into an EBITDA margin of 27.0%. Profit before tax (before exceptional items) stood at Rs 486 crore, up 9.7% sequentially.

For FY26, standalone revenue was Rs 8,396 crore, with EBITDA of Rs 2,312 crore. Consolidated revenue for FY26 increased 11.2% YoY to Rs 16,812 crore, while consolidated EBITDA rose 5.9% YoY to Rs 2,921 crore. The company maintained a strong balance sheet with standalone net debt-to-equity at 0.18x. During FY26, Bharat Forge secured new orders worth Rs 4,814 crore, including defence orders worth Rs 2,816 crore. The company’s defence order book stood at Rs 10,961 crore at the end of FY26, reinforcing its strategic positioning in the sector.

Export performance improved significantly during Q4, aided by inventory restocking and recovery in North American truck production. Passenger vehicle exports also witnessed strong momentum across North and Central America. Aerospace execution improved during the quarter with the onboarding of new customers across engine, structural, and landing gear components.

Domestic commercial vehicle demand remained robust, supported by GST-led industry tailwinds, while passenger vehicle production maintained healthy momentum. The industrial business continued to benefit from strong demand across power, construction & mining, agriculture, and machine tools.

Commenting on the performance, Baba Kalyani, Chairman & Managing Director, Bharat Forge Limited, said: “Despite demand challenges and regulatory volatility, Bharat Forge delivered a resilient performance in FY26, supported by strong execution across businesses and improving export demand in the second half of the year. The company secured new orders worth Rs 4,814 Crore in FY26, including Rs 2,816 crore in Defence. The order book for Defence stood at Rs 10,961 crores as of FY26. The order wins across businesses reflect a resurgence in business momentum, including in aerospace, with the onboarding of new customers across Engine, Structural, and Landing Gear components.

On the Indian subsidiaries front, JS Autocast registered topline of Rs 757 Crore and EBITDA of Rs 106 Crore (14.3% EBITDA margin) in FY26. K-Drive mobility is making significant progress in its effort to reorient its product portfolio with new order wins beyond M&HCVs, including 4 EV platforms for LCVs. The Rs 450 Crores impairment during the quarter of our investments in KPTL (E-mobility division) is an acceptance of the need to take a fresh look at how we address the EV opportunity, as the EV adoption globally has changed significantly. The US & European operations reported modest operating profits despite weak demand. We have initiated the restructuring of the steel business of CDP Bharat Forge, and we expect this process to conclude by the end of CY27. The management is pursuing various alternative business opportunities in Europe to leverage its scaled-down manufacturing footprint.

Looking ahead into FY27, barring any geopolitical crisis and its impact on demand, we are optimistic of achieving 25% revenue growth with a commensurate increase in EBITDA & profitability for the Indian manufacturing operations driven by execution of orders across business and recovery in the export market.”

Bharat Forge continues to focus on diversified growth opportunities across automotive, defence, aerospace, renewable energy, oil & gas, marine, rail, and industrial sectors.

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• EBRD provides €195 million to earthquake-hit cities in Türkiye
• Financing to cover water system projects in Adiyaman and Hatay
• EBRD is a key investor for the region and its recovery 

TURKIYE: The European Bank for Reconstruction and Development (EBRD) is providing €195 million to two key infrastructure projects in Türkiye’s earthquake-hit cities of Adiyaman and Hatay.   

Of the total EBRD financing, €95 million will cover the construction of wastewater and stormwater networks and facilities in Adiyaman. The other €100 million will be directed towards the construction of the Arsuz sewerage network and the Ucgulluk wastewater treatment plant in Hatay.

The loan will be provided to Türkiye through the Ministry of Treasury and Finance, for the benefit of Adiyaman Municipality and Hatay Water and Sewerage Administration, respectively.

İller Bankasi, the authorised body responsible for disbursing all critical municipal infrastructure financing provided by international financial institutions in the affected region, will act as the implementation agency for Adiyaman Municipality and will provide supervision and oversight services to Hatay Water and Sewerage Administration.

Both cities were severely affected by the 2023 earthquakes that hit the region, causing widespread damage and tens of thousands of fatalities.

In the weeks following the earthquake, the EBRD announced a €1.5 billion investment package to support the recovery and reconstruction of the region. Sustainable infrastructure is one of the Bank’s priorities in the area.

Key projects in the region supported by the EBRD include private-sector investments, supply chain enhancements, grants for small and medium-sized enterprises, credit lines, and critical infrastructure initiatives, such as financing the construction of a drinking water treatment plant in Gaziantep.

Elisabetta Falcetti, EBRD Managing Director for Türkiye, said: “The EBRD has already made available €1.3 billion in support of Türkiye’s earthquake-hit region. Investing in water and wastewater systems in these cities is a vital step towards restoring the dignity, health, and daily life of communities that have endured so much.

These projects are more than infrastructure – they are a signal of the EBRD’s enduring commitment to the region’s recovery and future prosperity, grounded in sustainable and inclusive growth.”

Both financings were announced during the Bank’s 2025 Annual Meeting and Business Forum, taking place in London. The event serves as a high-level platform for engagement with the Bank’s shareholders, donors, business leaders, and civil society.

The EBRD is among Türkiye’s key investors, with more than €22 billion committed through 482 projects and trade finance limits since 2009, most of which is in the private sector.

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It is crucial to effectively undergo muscle recovery after intense workouts to enhance performance, reduce the risk of injury, and ensure overall well-being. If people do not rest after exercising or excessive physical training, the chances of muscle tears increase along with hormonal imbalance and severe mental exhaustion. Here are seven proven strategies to boost your recovery and help you bounce back stronger: 

1. Prioritize Rest and Sleep: An individual’s body heals during the hours of sleep when all the lost energy is restored and growth hormones are released that assist muscles in repairing themselves and staying healthy. To facilitate this healing process, aim to sleep well for 7-9 hours each night. Furthermore, some people often feel too tired; therefore, they may wish to include a couple of power naps during the day to rejuvenate the body and improve their overall state of fatigue.
2. Properly Rehydrate: Performing intense workouts causes the loss of body fluids and electrolytes, especially through sweat, leading to a decline in muscle functioning and performance. Additionally, improving the recovery rate requires drinking adequate amounts of water all day. All minerals and electrolytes lost after exercises can also be replaced with different sports drinks or coconut water so that the body remains hydrated.
3. Fuel Your Body with Nutrients: After an intense workout, the body needs nutrients to repair muscle tissues and refill its energy reservoirs. Eating a well-balanced meal that consists of protein sources like chicken or paneer, carbohydrates such as rice or sweet potatoes, and healthy fats from foods like avocados or nuts within 30-60 minutes post-exercise helps to regain energy. 
4. Incorporate Active Recovery: Doing some light exercises on rest days helps with blood circulation and facilitates the removal of metabolic waste from muscles, aiding in recovery. Walking, swimming, or jogging slowly is good. The practice of light exercises increases the flexibility of joints along with assisting to relax tense muscles which consequently leads to fast recovery.
5. Use Proper Recovery Techniques: In the process of relieving muscle soreness and enhancing blood circulation, foam rolling and massage are among the methods that can be employed. People can integrate foam rolling into their daily routine so that it can address those tight spots and relieve muscle pain. Besides, one could also book for massages or use a percussion massager to further release muscle tension and promote recovery.
6. Apply Cold and Heat Therapy: Both cold and heat therapies offer significant benefits for recovery. Cold therapy like ice packs or cold baths is aimed at relieving inflammation and muscle soreness right after an intense workout, while heat therapy, having warm baths or heating pads as its form, can be used at other times to relax muscles and improve blood circulation, thus easing muscle stiffness and speeding up recovery
7. Monitor and Adjust Your Training Intensity: It is essential to listen to the body so that one does not suffer fatigue or injuries caused by workout overload. Ideally, the training schedule should include days for relaxing along with varying intensity levels of exercises that aid in complete muscle recovery. 

Effective recovery after an intense workout is key to improving performance, minimizing injury risk, and maintaining overall health. This is possible by following these seven practices which will not only help people to come back even stronger but also ensure that the body remains fit for the longest time possible. Ensuring that your body gets what it deserves to perform at its best level, accomplishes every fitness objective.

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• New EBRD funding and support for Ukraine announced at the Ukraine Recovery Conference in Berlin
• The bank also mobilizes more than €600 million of de-risking, risk-sharing tools
• Commitments bring the total EBRD financing deployed in wartime Ukraine to €4.5 billion

BERLIN: The European Bank for Reconstruction and Development (EBRD) is extending its support for Ukraine with new funding commitments. At the Ukraine Recovery Conference (URC) in Berlin on 11-12 June, the Bank signed multiple financing and pre-financing agreements, which brought the total EBRD financing deployed in wartime Ukraine to €4.5 billion.

The Bank has also mobilized new de-risking and risk-sharing tools from the European Union and other development organizations for over €600 million.

The EBRD, Ukraine’s largest institutional investor, has significantly increased its finance to Ukraine since Russia launched its full-scale war there, and aims to continue investing between €1.5 to 2 billion in the country annually.  

EBRD shareholders have recently agreed to provide a €4 billion paid-in capital increase to enable the Bank to continue investing at these levels in wartime, with the potential for more investments when reconstruction starts.

Ukraine is now a candidate for European Union accession. But the Berlin conference comes amid weeks of Russian air attacks on the country’s energy facilities. These have damaged or destroyed more than half of the national energy generation capacity and raised questions about how Ukraine will provide many of its citizens with light and heating this winter.

While visiting Kyiv last week, EBRD President Odile Renaud-Basso and Ukrainian Prime Minister Denys Shmyhal signed a Memorandum of Understanding (MoU) setting out €300 million of new EBRD emergency support for the energy sector. The EBRD will continue to explore with its partners further ways to support the country’s energy security.

In Berlin, the EBRD was active in all four of the conference’s thematic areas: EU accession; business development; local, municipal and regional development; and human capital development.

In the area of EU accession, the European Union agreed to provide €517 million to Ukraine through EBRD programs to support its economy and recovery. The agreements were signed on Tuesday by Managing Director for Ukraine and Moldova, Arvid Tuerkner, and European Commission Vice President Valdis Dombrovskis.

In the business category, the EBRD signed multiple transactions.

• An EBRD equity investment in a renewable energy joint venture led by a German investor to build and operate new solar power generation facilities in Ukraine. The EBRD is also lending €60 million to finance the construction of a privately owned Ukrainian greenfield biofuels project.
• Two transactions with local banks: a €20 million local-currency loan to Bank Lviv and a €50 million unfunded portfolio risk-sharing facility to Raiffeisen Bank Ukraine. These instruments will strengthen the banks’ lending capacity and boost access to finance for Ukrainian small and medium-sized enterprises (SMEs).
• A pre-financing agreement with PrivatBank for an unfunded portfolio guarantee, which, once signed, will cover up to 50 percent of PrivatBank’s credit risk on newly issued sub-loans worth up to €400 million to private businesses. This will help Ukrainian companies continue their operations, safeguard livelihoods, and invest in projects that contribute to the country’s food production, energy efficiency, and energy generation.
• To support Ukraine’s cross-border trade, the US International Development Finance Corporation and the French development agency Proparco declared their intent to share the risk of the EBRD’s trade finance exposure in Ukraine in the coming year. The two institutions intend to provide up to US$ 50 million each in risk-sharing guarantees, to support the export and import of critical goods. The arrangement builds on a plan drawn up last year by development finance institutions to collaborate on co-investments in Ukraine’s private sector.
• The EBRD and IFC agreed to continue advancing their joint appraisal to support the creation of a leading integrated telecoms operator in Ukraine through the merger of Datagroup-Volia, a national fixed telecoms leader, and Lifecell, the country’s fastest-growing mobile operator. The landmark deal for Ukraine would entail potential joint financing of up to US$ 435 million to support the expansion and improvement of telecommunications infrastructure.
• The Bank joined the SME Resilience Alliance, an initiative launched by the conference’s German organizers.
• Lastly, the EBRD is partnering with Endeavor Global to launch Endeavor Ukraine. The organization’s Ukrainian chapter will support high-impact entrepreneurs through mentoring, networking, and investment opportunities, promoting an entrepreneurial ecosystem, which is crucial for a vibrant private sector and long-term economic growth.

To support Ukraine’s cities and regions as they grapple with the fallout from the war, the EBRD signed two municipal transactions and four pre-financing agreements worth a total of €143 million, under the conference’s local and regional heading, as well as MoUs for regional transport and water infrastructure projects.

• The EBRD is lending a financial package of €25 million to the port city of Mykolaiv to repair its water infrastructure. The package includes a €10 million grant component provided by Denmark and a €5 million grant from the Eastern Europe Energy Efficiency and Environment Partnership (E5P).
• The Bank is lending €15 million, which includes an EU component, to Lutsk to upgrade its district heating system.
• Kharkiv, Ukraine’s second city, which has come under heavy Russian attack in recent months, was one of three municipalities along with Kyiv and Kryvyi Rih to sign pre-financing agreements for the provision of emergency liquidity to maintain vital services. The Kharkiv project will also include an EU component. A fourth pre-financing agreement was signed with the city of Zhytomyr for a public transport project.
• MoUs were also signed with Ukrainian Railways and the Ministry of Infrastructure for a potential €300 million project in which the EBRD would provide co-financing for the purchase of electric locomotives, and with the Ministry to support the regional water sector.
• The Bank joined the Coalition for Sustainable Municipalities.
  

Under the umbrella of human capital, the EBRD, Ministry of Economy of Ukraine and Sweden’s Folke Bernadotte Academy (FBA) launched a new Human Capital Resilience Charter to help employers in Ukraine support returnee workers and veterans in meeting the challenges they face in the wartime labour market. The EBRD also joined the Skills Alliance for Ukraine as well as the Alliance on Gender-Responsive and Inclusive Recovery.

Lastly, the Bank reconfirmed its deepening partnership with USAID by signing an MoU with shared objectives regarding Ukraine’s resilience and recovery. It establishes a basis for ongoing cooperation between the partners in energy, infrastructure and finance.

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In the new research study, published in Frontiers in Nutrition and funded by the Almond Board of California, 25 mildly overweight middle-aged men and women performed a 30-minute downhill treadmill run test after eight weeks of consuming 57g (two ounces) of whole raw almonds daily. The control group ate a calorie-matched (86 g/three ounces) snack of unsalted pretzels. The treadmill test was designed to cause muscle damage to see how almonds affected muscle recovery.

Researchers measured participants’ muscle function; blood markers of muscle damage and inflammation; and perceived muscle soreness using a visual scale, before, during, and at three time points after the treadmill test. They also measured markers of cardiometabolic health, body composition, and psycho-social assessments of mood, appetite, and well-being at baseline and after eight weeks of almond snacking.

The results: Study participants who ate almonds experienced an almost 25 percent reduction in muscle soreness when performing an explosive power exercise (a vertical jump challenge) over the cumulative 72-hour exercise recovery period. The perceived reduction in soreness translated to better muscle performance during the vertical jump challenge in the almond group versus the control. No significant differences were observed in measures of cardiometabolic health, muscle damage/inflammation, mood state, or appetite for the almond group or the control group.

This study included non-smoking participants who were mildly overweight and occasionally physically active but were not trained athletes. A limitation of this study is that the results are not generalizable to populations with other demographic and health characteristics.

“Our study suggests that snacking on almonds can be recommended to occasional exercisers as a go-to food to help fitness recovery after strenuous exercise,” said Dr. Oliver C. Witard, Senior Lecturer in Exercise Metabolism and Nutrition at Kings College London. “Almonds are naturally nutritious with protein, good fats, and the antioxidant vitamin E. They can be considered an ideal food for fitness.” One serving of almonds (28 g) has 4 g of plant protein, 13 g of good unsaturated fat, and only 1 g of saturated fat.

Dr. Witard’s study joins previous research that examined how regular almond snacking affected exercise recovery for healthy adults who exercise occasionally.

“Sticking to an exercise routine is not easy, so finding dietary strategies to help people be – and stay – physically active is important for public health. Our preliminary findings are encouraging in showing that almond snacking may promote adherence to new training programs among people who are unaccustomed to exercise,” said Dr. Witard.

One ounce (28 g) of almonds provides 6g of protein, 4 g of fiber, and 15 essential nutrients, including 76 mg of magnesium (20% DV), 7.3 mg of vitamin E (50% DV), and 210 mg of potassium (4% DV), making them a great snack for healthy active lifestyles.

Ritika Samaddar, Regional Head-Dietetics, Max Healthcare – Delhi said, “Over the years, I have consistently recommended daily consumption of almonds to my patients, and the new study funded by the Almonds Board of California shows it is extremely crucial to incorporate these powerhouses of nuts into their diet. The findings of the Witard study, which suggest that consuming almonds daily can reduce muscle soreness and enhance muscle function, excite me as a dietitian. The noteworthy discovery of a 25% decrease in muscle soreness throughout the 72-hour recovery period emphasizes the significance of incorporating nutrient-dense foods, such as almonds, into a balanced diet to promote general health and fitness. The study also highlights the potential of almonds to encourage those who are not used to exercising to stick to new training regimens. Overall, as a dietitian, I strongly recommend incorporating almonds into the diet, as they offer vital nutrients, including protein, healthy fats, and antioxidant vitamin E, that are beneficial for both overall health and muscle rehabilitation when included in a regular diet.”

Dr. Rohini Patil, MBBS & Nutritionist said “As a nutritionist, I’ve long advocated for the inclusion of almonds in my patients’ diets due to their exceptional nutritional profile. This latest study highlights the importance of almonds in muscle recovery and performance. The significant reduction in muscle soreness observed in participants consuming almonds highlights their potential to support post-exercise recovery, ultimately leading to enhanced muscle function. Moreover, the fact that this improvement in muscle performance was accompanied by no adverse effects on other health parameters reaffirms almonds’ role as a safe and effective dietary component. I highly recommend incorporating almonds into your diet for their myriad health benefits, including aiding in muscle rehabilitation and promoting overall well-being.”

Overall, the latest study funded by the Almond Board of California suggests that snacking on almonds for eight weeks reduced perceived feelings of muscle soreness during recovery from muscle-damaging exercise, resulting in better maintenance of muscle functional capacity. This study suggests that almonds are a functional food snack to improve exercise tolerance in mildly overweight, middle-aged adults.

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· The IMF staff team and Surinamese authorities reached a staff-level agreement on the third review of the authorities’ economic recovery program supported by the Extended Fund Facility (EFF). The review is subject to approval by the IMF’s Executive Board.

· The authorities’ commitment to macroeconomic stability and fiscal discipline is starting to bear fruit. The economy is stabilizing. Pressures on the exchange rate have eased and inflation, while still high, is on a downward trend.

· The government’s near-term policy priority is to persevere with prudent fiscal policy while protecting the poor and vulnerable and supporting growth-enhancing investment.

WASHINGTON DC: An International Monetary Fund (IMF) team led by Ms. Anastasia Guscina conducted a virtual and in-person mission with the Surinamese authorities during August 7-22 to discuss policies to complete the third review of the 36-month Extended Fund Facility approved by the IMF Executive Board on December 22, 2021.

Suriname and the International Monetary Fund (IMF) have reached a staff-level agreement on the third review of the country’s economic recovery program supported by the Extended Fund Facility (EFF). The review is subject to approval by the IMF’s Executive Board.

According to the IMF, the Surinamese authorities’ commitment to macroeconomic stability and fiscal discipline is starting to bear fruit. The economy is stabilizing, and pressures on the exchange rate have eased. Inflation, while still high, is on a downward trend.

The government’s near-term policy priority is to persevere with prudent fiscal policy while protecting the poor and vulnerable and supporting growth-enhancing investment.

Upon completion of this review, Suriname will have access to SDR 39.4 million (about USD 53 million), bringing total program disbursements to date to SDR 157.6 million (about USD 212 million).

The IMF team led by Ms. Anastasia Guscina conducted a virtual and in-person mission with the Surinamese authorities from August 7-22 to discuss policies to complete the third review of the 36-month Extended Fund Facility approved by the IMF Executive Board on December 22, 2021.

The authorities’ commitment to fiscal discipline and macroeconomic stability is starting to bear fruit. Pressure on the exchange rate has eased in recent months, and inflation, while still high, is on a downward trend. Usable international reserves remain comfortable at 4.7 months of imports at end-June 2023. With strong program implementation, growth is projected to recover to 2.1 percent in 2023 and converge to 3 percent over the medium term. Fiscal and monetary tightening is expected to lead to a gradual decline in inflation to 40 percent by the end of 2023.

The authorities face important near-term policy implementation challenges reflecting both capacity constraints and a challenging socio-political environment, as well as external risks from a renewed worsening in the terms of trade. Over the long term, there are significant upside risks to growth due to the development of large new oil fields.

Program performance during the third review was good, with most quantitative targets met. The authorities are on track to achieve a primary central government surplus of 1.7 percent of GDP this year, in line with program commitments. The structural reform agenda continued to progress, albeit with some delays.

It remains critical that poor and vulnerable groups are sheltered from the effects of fiscal adjustment and high inflation. The government is expanding the coverage of social assistance programs and will look at ways to protect the value of payments from inflation. With the support of development partners, the government will take a comprehensive look at the efficiency and effectiveness of the existing social protection programs and develop a strategic plan to guide future reform efforts in this area.

The authorities have made progress with debt restructuring, which is a critical element in restoring debt sustainability. All negotiations with the country’s official and private creditors, except for China, have been concluded. The debt exchange with private external bondholders will be launched next week. The authorities are actively negotiating with China on a debt restructuring agreement in line with program parameters, with the goal of making more progress by the next program review. The government has concluded negotiations on the restructuring of the legacy debt owed to the central bank, balancing the government’s financial constraints and the financial health of the central bank. Domestic debt and supplier arrears are being cleared.

The monetary stance is appropriate and is increasingly reflected in market conditions. Supported by the April increase in local currency reserve requirements and the guidance to contain private sector credit growth, reserve money growth has stabilized, and private sector credit growth has slowed. Median deposit and lending rates, although negative in real terms, are gradually edging up as more banks compete for liquidity. The authorities remain committed to a flexible, market-determined exchange rate.

The central bank is taking important steps to address weaknesses in the banking system and develop modern crisis management capabilities. The central bank has finalized the assessment framework for banks’ time-bound recapitalization and restructuring plans. Banks are implementing the recommendations from the Asset Quality Review and adjusting their loan loss provisioning.

The authorities are implementing reforms to strengthen governance. The central bank is clearing the backlog of audits of financial statements and is working to normalize the auditing cycle. A recapitalization plan for the central bank is being finalized. The government is taking steps to increase transparency in public procurement, as well as strengthen anti-corruption and anti-money laundering and combating the financing of terrorism (AML/CFT) frameworks.

The IMF team thanked the authorities for a collaborative and fruitful dialogue. A wide-ranging set of meetings was held with the President of the Republic of Suriname, the Vice President, the Chairman of the National Assembly, the Minister of Finance and Planning, the Minister of Justice and Police, the Minister of Social Affairs and Housing, the Minister of Internal Affairs, the Minister of Natural Resources, the Central Bank Governor, faction leaders and members of parliament, other senior government officials, representatives of the private sector, labor unions, and development partners.

The agreement is a positive step towards Suriname’s economic recovery and will help the country to continue on the path of macroeconomic stability and fiscal discipline.

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EBRD fully committed to London’s Ukraine Recovery Conference

·       New investment commitments expected in several areas, along with support for reform

·       EBRD is Ukraine’s largest institutional investor

LONDON: The United Kingdom hosts the 2023 Ukraine Recovery Conference on Wednesday and Thursday, with the EBRD – Ukraine’s largest institutional investor – bringing its deep knowledge of the country to bear on discussions about what reconstruction could look like and how best to plan and finance it.

This London conference on the future, organized jointly by the UK and Ukraine, takes place at the same time as Ukraine’s launch of a counteroffensive to retake Russian-occupied territory.

The country is also dealing with the effects of damage two weeks ago to the Nova Kakhovka dam in the Kherson region. This has flooded low-lying areas on both sides of the Dnipro River and forced the evacuation of thousands of people.

Delegates gathered in London, however, will focus more on the cost and modalities of rebuilding the country once hostilities subside. According to the World Bank’s latest needs assessment, Russia’s war on Ukraine caused US$ 135 billion of damage in its first year, and reconstruction over 10 years could cost US$ 411 billion.

Last year’s Ukraine Recovery Conference in Lugano laid the foundations for the reconstruction process. This year’s London conference is looking for a broader mobilization of public and private sectors to meet the scale of Ukraine’s stabilization and recovery needs.

Ukraine, now a candidate for the EU, has committed to building back better, pursuing an active reform stance despite the war.

The EBRD, which has a relationship with Ukraine dating back more than three decades, working both on projects and on support for the Ukrainian authority’s reforms, has already significantly increased its support there since the Russian invasion last February, committing to invest €3 billion in 2022-23. It stands ready to back reconstruction with further funding and know-how, and in May secured the permission of its Board of Governors to work on a potential capital increase by year-end to extend maximum support for Ukraine.

EBRD President Odile Renaud-Basso will be participating in a plenary session entitled Framework for Lasting Recovery at the main conference, whose themes are Unity, Diversity, and Delivery and whose main topics will be attracting the private sector to help finance reconstruction, rebuilding infrastructure, and improving reform and governance.

“The EBRD’s aim from the start has been a very practical one: to support the resilience of Ukraine’s real economy in the here and now, working primarily on energy security, vital infrastructure, food security, trade, and support for the private sector. Together with a continuation of the reform agenda, reconstruction will be an intensification of this, building on our support for these key sectors of the economy,” said Ms. Renaud-Basso.

Ms. Renaud-Basso will be joined at the URC by the EBRD’s Vice President, Policy and Partnerships, Mark Bowman; Managing Director, of Eastern Europe and the Caucasus, Matteo Patrone; Managing Director, Impact and Partnerships, Ines Rocha; Managing Director, of Policy Strategy Delivery, Christoph Denk; and Mark Magaletsky and Irina Kravchenko, Deputy Heads of EBRD in Ukraine.

At or on the margins of the conference, the EBRD expects to sign two transactions, one in agribusiness under its Food Security Pillar, and the other in the financial institutions sector under the Resilience of the Private Sector pillar.

The Bank also expects to sign three Memoranda of Understanding (MoUs) with Ukrainian Prime Minister Denys Shmyhal on further work to boost Ukraine’s energy security, one covering hydropower in the wake of Nova Kakhovka, one electricity, and one gas.

On 21 June, Ms. Renaud-Basso will sign on behalf of the EBRD a Memorandum of Understanding (MOU) with 17 development finance institutions on collaboration when making co-investments in Ukraine, mainly in the private sector. This builds on an initial commitment in May by the EBRD and the development finance institutions from the G7 group of advanced economies to establish the EBRD-led EBRD-G7 DFI-EDFI Ukraine Investment Platform.

Finally, the EBRD will sign a statement of intent on relaunching the insurance market in Ukraine.

The Bank will also host several side events at its London HQ, starting with a gender event on 20 June, titled A Vision for Gender Responsive Recovery in Ukraine. Partners include UN Women, the UK Foreign, Commonwealth and Development Office (FCDO), the National Democratic Institute (NDI), the Ukrainian Women’s Fund, the Women’s Ukraine Congress, and the government of Ukraine.

The event will explore the challenges stemming from displacement, conscription, disability, and psychological harm – as well as the intersectionality with gender–related to wartime conditions.

On 22 June, the EBRD will host an event on “Investments in Energy for Green Recovery”, moderated by the Ukrainian energy think tank DiXi Group.

The Ukrainian government has announced a “build back better” approach to energy sector recovery, with an emphasis on renewable energy sources and energy-efficient technologies. Before the war, the country, an exporter of electricity, was already developing renewable energy alongside its nuclear energy resources. Ukraine’s electricity sector has undergone severe bombardment by Russian forces through the winter.

Discussion will focus on the prospects of investors coming to Ukraine’s energy sector, and which companies are ready to invest, as well as on the steps needed to improve the business climate.

On 23 June, the EBRD will co-host a final morning event, Financial Integrity, and Transparency, along with the German Marshall Fund of the United States, USAID Support to Anti-Corruption Champion Institutions, RISE Ukraine Coalition, Transparency International Ukraine, and Transparency International UK.

This event will be supported by the EBRD’s Ukraine Stabilisation and Sustainable Growth Multi-Donor Account, grouping Austria, Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, Norway, Poland, Sweden, Switzerland, the United Kingdom, the United States, and the European Union.

It will bring together officials from governments and donor agencies, as well as civil society, to publicly explain all the work underway to ensure that Ukraine’s recovery and reconstruction process is transparent, accountable, digital, and efficient. It will also explore questions related to the management of state property and corporate governance of state-owned enterprises (SOEs).

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