Ukraine’s central bank stated that it sees an increased risk of devaluation pressures on the Ukrainian hryvnia (UAH). The central bank stepped up its interventions in the spot market to support the UAH. The central bank expects lenders to lose about 20% of the loan portfolio and the bank also came with a reiteration that the economy is expected to shrink by a third this year. Separately, the head of the EIB said that Ukraine needs about $1.1tln to repair the damages inflicted by the invasion. According to the head, “I have put the trillion out there because I saw figures in the public space that I consider completely unrealistic when I look at the level of destruction”.