The President of the European Bank of Reconstruction & Development, Jean Lemierre, announced that the bank has plans to invest EUR 700 mln in Ukraine in 2007, and that this sum could be raised to EUR 1 bln. According to Lemierre, most of the EBRD’s projects will focus on upgrading technology in Ukraine’s energy sector. To date, the EBRD has invested roughly EUR 2.4 bln in Ukraine. The EBRD is expected to spend roughly EUR 550 mln on Ukrainian investment projects by the end of 2006.