Ukraine is developing coordination with bilateral development agencies (DFIs), in particular through the Memorandum of Understanding between the EBRD and DFI on the co-financing platform, which allows the use of long-term project financing and guarantees from DFIs together with resources from international financial institutions (IFIs) to implement investment projects in Ukraine.
Ukraine needs investment in the private sector now, not waiting for the end of the war, so investors’ use of the Platform is extremely important to support the country’s reconstruction.
This was stated by Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine, Minister of Economy of Ukraine, in a video address at the annual meeting of the European Bank for Reconstruction and Development and the European Development Financial Institutions – EBRD-G7 DFI-EDFI Ukraine Co-Investment Platform in Oslo, Norway.
“The Government of Ukraine is grateful to our partners from the EBRD and global development finance institutions for their support of the Ukrainian private sector. In particular, the Memorandum between the EBRD and DFI establishes effective coordination of efforts to invest in Ukraine. It is important for us that investors use the Co-Investment Platform right now, not waiting for the war to end,” said Yuliia Svyrydenko.
The First Deputy Prime Minister noted that Ukraine was looking forward to new practical initiatives within the framework of the Co-Investment Platform with a focus on addressing urgent needs. This includes determining projects with a high potential for mobilising private capital and a significant multiplier effect, improving financial mechanisms to stimulate private investment, and creating a number of investment projects for businesses through technical assistance and feasibility studies of project solutions.
For investors, the Government offers a wide range of support programmes, from war risk insurance infrastructure to a programme to support projects with significant investments and programmes to stimulate the development of industrial parks. Investors also have access to various types of financing through the Ukraine Investment Framework. This is an instrument under the Ukraine Facility totalling more than EUR 9 billion over the next four years.
In parallel with the Platform meeting, the Ukrainian delegation led by Deputy Minister of Economy of Ukraine Volodymyr Kuzio held more than 15 bilateral meetings with DFI representatives. The purpose of these meetings is to develop and analyse possible areas for further cooperation, including the implementation of joint investment projects.
“The Ministry of Economy of Ukraine is working to create conditions for all DFIs to enter project financing of business investments in Ukraine, including a mandate from the governments of partner countries, de-risking tools and local investment expertise. To this end, it is important to exchange information and cooperate with international financial institutions such as the EBRD and IFC, Ukrainian banks, and export credit agencies, to which the Ministry has joined. This step will help us establish direct communication with partners and secure targeted support for the rapid implementation of investment projects,” said Deputy Minister of Economy of Ukraine Volodymyr Kuzio. (Government portal)