KYIV, Nov 3 - The European Bank for Reconstruction and Development (EBRD) is investing $ 75 million in Ukrenergo bonds linked to sustainable development, the bank said.

"The European Bank for Reconstruction and Development is investing $75 million in the $825 million sustainability-linked bond issued by Ukraine's national power company, Ukrenergo, in a bid to resolve the payments crisis gripping the country’s renewable energy sector," the bank said on its website.

"It is the first sustainability-linked bond issued by a Ukrainian company and the EBRD's participation as the anchor investor provided comfort to other institutional investors, further widening the market participation. The proceeds will cover all payment arrears owed to renewable energy producers. The investment will help restore the credibility of the Ukrainian renewable energy sector and boost the confidence of private investors and financiers, paving the way for much-needed investment to support the country's green transition," the bank said.