Emergency support extended to the ‘Bread Basket of Europe’ whose tourism sector is reeling under the weight of the pandemic

ukraine kharkiv

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have decided to extend support to Ukraine’s tourism sector, in a bid to mitigate the losses suffered.

“Following the outbreak of the coronavirus pandemic, the tourism and hospitality industry across the world is expecting more than a billion tourists to cancel their holiday plans, leading to an 80% compared with 2019. In response, the European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have teamed up to offer emergency support and recommendations for Ukraine’s tourism industry, which has also been badly affected by the pandemic,” they stated in a press release.

Ukraine is famous for agricultural production (for eg wheat) and is known as the ‘Bread basket’ of Europe.

The recommendations provide an overview of Covid-19 mitigation measures to be considered by the Ukrainian authorities, business and proposed by professional associations. It also recommends further steps needed in order to put tourism on the path to recovery. These include an anti-crisis plan for 2020, a reorganised roadmap, an awareness campaign and suggestions on capital investment requirements and new tourist products development.

The report entitled Covid-19 pandemic and its effects on the Ukrainian tourism sector was presented online to industry professionals, regulators, relevant authorities and stakeholders. It updates the original tourism roadmap unveiled in Ukraine in November 2019 and is designed to unleash the country’s potential in the sector.

“Ukraine is the first economy in which the EBRD invests where there has been such systemic sector analysis related to a specific industry. It is expected that the approach will be introduced in other countries too, drawing on experiences in Ukraine,” the press release reads.

The EBRD is the largest international financial investor in Ukraine. To date, the Bank has made a cumulative commitment of almost €15 billion through 466 projects in the country.

Ukraine is a large country in Eastern Europe known for its Orthodox churches, Black Sea coastline and forested mountains. Its capital, Kiev, features the gold-domed St. Sophia’s Cathedral, with 11th-century mosaics and frescoes. Overlooking the Dnieper River is the Kiev Pechersk Lavra monastery complex, a Christian pilgrimage site housing Scythian tomb relics and catacombs containing mummified Orthodox monks.

Ukraine is famous for its mountain ranges – the Carpathian mountains suitable for skiing, hiking, fishing and hunting. The Black sea coastline is a popular summer destination for vacationers. Kiev, the country’s capital city, has many unique structures such as the Saint Sophia Cathedral.