Agricultural sector, war risk insurance and private capital attraction: Oleksii Sobolev and Arvid Tuerkner discuss Ukraine-EBRD cooperation

The continuation and expansion of cooperation in priority areas were discussed during a meeting in Kyiv between Ukraine’s Minister of Economy, Environment and Agriculture, Oleksii Sobolev, and Arvid Tuerkner, Managing Director of the European Bank for Reconstruction and Development (EBRD) for Ukraine and Moldova.

Key topics included the implementation of projects in the agricultural and energy sectors, particularly renewable energy, war risk insurance, the development of public-private partnerships, and the greening of the economy.

“The synergy of the consolidated Ministry enables us to move faster in key areas related to environmental protection and agriculture. We aim to leverage this opportunity in our cooperation with the EBRD, particularly for greening the economy. Our priorities also include attracting private capital to the economy, with a focus on privatisation projects and public-private partnerships, supporting frontline territories, expanding financing tools, and reducing risks for investors,” said Oleksii Sobolev.

During the meeting, the parties discussed irrigation reform, which is set to be a significant factor in the development of the agricultural sector. The EBRD will assist Ukraine in working on changes in this area and will launch a pilot project to modernise irrigation systems in southern Ukraine.

The discussion also covered expanding cooperation in war risk insurance, including potential EBRD support for launching a state programme to insure war-related risks for businesses amid the ongoing conflict, as well as developing a digital platform for this purpose. It was noted that the Ukrainian Government aims to make insurance more accessible to entrepreneurs.

Other topics included legal solutions to unlock significant EU funding for critical projects, privatisation, the development of public-private partnerships, and the implementation of related projects.

It was highlighted that, to attract private capital for reconstruction, Ukraine, together with its partners, is preparing an extensive list of investment projects. These proposals will be presented to international partners at the IMF and World Bank meetings in October.