You're reading: EBRD asks Ukraine to step up fight against corruption

The high level of corruption in Ukraine restrains investment activity, President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti has said. 

The volume of our investment depends on the investment climate. The investment climate [in Ukraine] has deteriorated in recent months,” he said at a press conference in Kyiv on Tuesday.

Chakrabarti said that there had recently been more complaints from investors against the actions of tax and customs services, as well as the judicial system.

He noted that during his visit to Ukraine, this issue was discussed with the president and other leaders of the state, which allows one to expect the implementation of effective measures to improve the situation.

He also said that the EBRD still plans to invest around EUR 1 billion per year in Ukraine, and that the final amount will depend on the investment climate in the country.