On March 26, the Minister of Economy, Environment and Agriculture of Ukraine Oleksiy Sobolev met with representatives of the EBRD, in particular, EBRD Vice-President for Policy and Partnerships Mark Bowman and EBRD Managing Director, Ukraine and Moldova, Arvid Turkner.
The meeting participants discussed the current needs for financing critical infrastructure, external financing needs for 2026-2027, the Government’s plans for the privatization of state-owned banks, and progress in key political reforms.
Among the Government’s priority tasks is the creation of a special insurance fund to protect energy and critical infrastructure from military risks. There is also a need to expand the coverage of insurance products to port storage, logistics and fuel transportation.
“Ukraine needs effective mechanisms for insurance against military risks. The need is particularly acute in the energy sector, infrastructure and business activities. In this context, the Government, together with the EBRD, is exploring the possibility of developing an additional, specialized insurance fund focused on energy and critical infrastructure,” said Oleksiy Sobolev.
In addition, the Government is interested in more effective use of EBRD guarantees to finance the energy sector under UIF programs. In addition, technical assistance and advisory support from the EBRD is needed to reduce the risks of investments in privatization. This concerns the preparation and implementation of privatization processes or the management of transactional asset sales.
The parties also discussed the status of the implementation of the RampUp program, which aims to reduce risks in investments in renewable energy. The program was developed jointly with the World Bank. It is planned to launch a risk reduction mechanism for the new generation of renewable energy – the first auctions to cover the fund are expected in the fall. (Economy Ministry)