The main areas of implementation of this program are trade financing for Ukrainian banks, the agricultural sector, and small and medium-sized business entrepreneurs.
The Board of Directors of the International Finance Corporation (IFC), which is part of the World Bank, supported it financing program of Ukrainian business for 2 billion dollars.
She reported about it press service Ministry of Economy, noting that the IFC Board of Directors also approved two separate projects for the private sector: for the French company EnVivo, which has agribusiness in Ukraine, as well as military risk insurance for Raiffeisen Bank.
“The main areas of implementation of this program are trade financing for Ukrainian banks, the agricultural sector, and small and medium-sized business entrepreneurs. The fact that the corporation’s management supported the proposal to allow IFC to work with state-owned companies is also very important. This was done as an exception for Ukraine. In general, IFC is practically prohibited from working with state-owned companies,” said First Vice Prime Minister – Minister of Economy Yuliya Svyridenko.
“This is a positive sign for many investors who are considering whether it is worth investing in Ukraine right now. Such financing is expected to mobilize private credit capital, as IFC usually finances no more than 30% of the project cost, bringing commercial banks and other MFIs into the financial consortium. Thus, the total amount of projects of Ukrainian enterprises that can be financed can amount to more than 6 billion dollars”, concluded the head of the Ministry of Economy.
International Finance Corporation (IFC):
The International Finance Corporation (IFC) is part of the World Bank Group. One of the most important directions of IFC’s activity is the mobilization of large amounts of private capital for the purpose of development, primarily in low-income countries, as well as in states with instability and conflicts. Ukraine has been a member of the IFC since 1993.
In September 2022, IFC allocated $30 million for investments in Ukraine and Moldova.
Financial assistance to Ukraine:
On November 22, 2022, it became known that the United States of America highlight Ukraine received an additional 4.5 billion dollars in direct budget support. Funds will start disbursing in the coming weeks.
In addition, the Government of Canada will pass on the start of issuing five-year “Ukrainian sovereignty bonds” in the amount of 500 million Canadian dollars to support Ukraine on the eve of the difficult winter period.
Earlier, the head of the European Commission, Ursula von der Leyen announced, that the EC allocates another 2.5 billion euros to Ukraine. She noted that in 2023 the allocation of 18 billion euros with regular payments is planned.
On November 22, 2022, the World Bank allocated Ukraine $60 million soft loan.
