The Ukraine Investment Fund, managed by the Norwegian state investment fund Norfund, will invest approximately 100 million Norwegian kroner (around €8.5 million) to expand the M10 Industrial Park in Lviv, the press service of Dragon Capital reported.
“An important part of Ukraine’s resistance is keeping the economic wheels turning. The Ukraine Investment Fund’s first investment is a good example of how the fund will contribute to this by investing in sustainable businesses and infrastructure projects,” said Norway’s Minister of International Development, Åsmund Økrust, as cited in the press release.
According to Norfund CEO Tellef Thorleifsson, the investment in M10 will create several thousand jobs.
The Ukraine Investment Fund was established in December 2024 and is managed by Norfund. Its aim is to support sustainable businesses and job creation in Ukraine, with a focus on high-risk projects leveraging private capital.
The first building of M10 Lviv Industrial Park, implemented by Dragon Capital in partnership with the European Bank for Reconstruction and Development (EBRD), received international EDGE certification.
The M10 Industrial Park is being developed in the Riasne-2 industrial zone of Lviv, 60 km from the Polish border. The total site area of 23.5 hectares allows for the construction of six phases of production, warehouse, and office buildings according to international sustainable development standards.
EBRD holds a 35% stake in the project, with total investments potentially reaching $24.5 million.
In September 2023, the World Bank’s Multilateral Investment Guarantee Agency (MIGA) provided the M10 Lviv Industrial Park with 10-year insurance against war risks.
The first phase of the industrial park—a Class A warehouse complex of 14,400 sq. m—was completed and put into operation in February 2024. The facility is fully leased by Aurora, one of Ukraine’s leading retail networks.
