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RIYADH: The European Bank for Reconstruction and Development has boosted its trade finance proposal for Ukraine by €100 million ($106 million) to support the country’s trade and food security. 

With the latest increase, the total amount directed to Ukraine under the EBRD’s Trade Facilitation Program reached €330 million, which is a rise of over 40 percent since the war outbreak on Feb. 24.

The aid is part of the EBRD’s €1 billion activity that it undertakes in partnership with donors and other partners this year, it said in a statement. 

Part of the raise is focused on food security in a bid to head off a global food crisis during autumn and next year.

This happens amid Ukraine’s struggle with the economy following its invasion by Russia.