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  • Denys Shmyhal: MIGA disbursed $30 million to Ukraine for the implementation of a pilot investment insurance project
    Communications Department of the Secretariat of the CMU, posted 24 October 2022 16:08

    The Government of Ukraine is committed to promoting the leverage of investment and, despite the war, is reducing intervention of the state in the economy, stressed Prime Minister of Ukraine Denys Shmyhal during the inauguration of the V Ukrainian-German Economic Forum in Berlin on October 24.

    The Head of the Government has noted that Ukraine is working to minimize military risks for investors. In particular, there has been established cooperation with the Multilateral Investment Guarantee Agency (MIGA).

    "MIGA has successful cases in countries that were facing terror attacks. The Agency has disbursed $30 million to Ukraine for the implementation of a pilot project on investment insurance. We will continue and build on this activity with all insurance agencies in Europe and the world," stressed Denys Shmyhal.

    According to the Prime Minister, Ukraine also expects that the International Finance Corporation (IFC) will submit a package of financial assistance to attract investors for approval by the Board of Directors of the World Bank.

    In order to promote investments, Ukraine has resumed privatization, is deepening deregulation, and is creating conditions for quick investments, Denys Shmyhal told. Moreover, the Government has submitted amendments to the law on so-called "investment nannies", which expands the circle of potential investors.

    "The preferences that applied to projects from €20 million will now be extended to projects from €12 million euros. In addition, the areas covered by relevant projects will be expanded," the Prime Minister noted.

    According to Denys Shmyhal, Ukraine has formed a broad investment menu — more than 500 investment projects and opportunities in 10 sectors of the economy with a total potential of more than $400 billion: "Ukraine needs investments for growth. But European business also needs Ukraine to implement bold and challenging ideas."

    Denys Shmyhal: MIGA disbursed $30 million to Ukraine for the implementation of a pilot investment insurance project