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Ukraine and IFC ink memorandum on creating mechanisms to attract private investors to recovery

12 Dec, 2022
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Ukraine and IFC ink memorandum on creating mechanisms to attract private investors to recovery

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The International Finance Corporation (IFC) will support Ukraine in restoration and raising investments in infrastructure. The relevant Memorandum of Understanding between the Government of Ukraine and the IFC on the creation and implementation of mechanisms to attract private investors to the restoration of Ukraine's infrastructure was signed in Paris on December 12 by Prime Minister of Ukraine Denys Shmyhal and IFC Vice President for Europe, Latin America and the Caribbean Alfonso Garcia Mora.

Cooperation will include assistance in the selection of priority projects for the restoration of Ukraine and the creation of favorable conditions for attracting private investment. In particular, it will include public-private partnership projects in such sectors as transport and logistics, urban and social infrastructure, energy.

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"The russian war against Ukraine has caused unprecedented damage to our country, as the estimated costs of reconstruction are estimated at billions of dollars. Ukraine invites private companies and financial institutions from around the world to participate in our ambitious recovery plan. Together with the IFC, we are working to create the conditions to increase private investment in our economy, especially through public-private partnerships. Together we hope to quickly launch effective projects to rebuild Ukraine. We are grateful to our partners for this support," said Denys Shmyhal.

Alfonso Garcia Mora, for his part, noted that as one of the largest investors in the private sector of Ukraine, IFC was working tirelessly to attract private capital for the reconstruction of Ukraine.

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"We will start working with the Government of Ukraine to create an appropriate environment for private investment in infrastructure, as well as to identify and develop priority projects. In this way, we will be able to quickly mobilize private investors as soon as conditions in Ukraine allow us to start full-fledged reconstruction," said IFC's Vice President.


The Odessa Journal

The Odessa Journal

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