The International Finance Corporation (IFC, a member of the World Bank Group)  counts on  increasing cooperation with Ukraine, primarily in the private sector and agribusiness, which currently forms 80% of the project portfolio of the corporation. The relevant agreements were reached during a meeting of Prime Minister of Ukraine Volodymyr Groysman with representatives of the IFC.

The Head of Government recalled that a few days ago he had a constructive meeting with the World Bank Directors, during which the agenda of relations was shaped, including the specific projects on reforms support and separate branches. In this context, the Prime Minister emphasized IFC's advisory role, for example, in assisting in the management of the Energy Efficiency Fund and of the state-run bank  Ukrgasbank  is a step towards continued long-standing  and fruitful collaboration

"I praise our joint commitment to  unite efforts and work in the same direction", the Head of Government said.

In turn, Chief Operating Officer for IFC, Ms. Stephanie von Friedeburg stressed that IFC  is ready to expand its activities in Ukraine.

"We are very interested in developing private sector projects. We look forward to cooperation in the field of renewable energy and in the agricultural sector. This is certainly a promising area", Ms. Stephanie von Friedeburg emphasized.

Volodymyr Groysman informed the interlocutors about the latest innovations of the Government in the agricultural sector, first of all, in support of small-scale farming. The parties agreed that the development of this agricultural producers will be beneficial for all.

"We also have a great potential for cooperation in industry, especially in the context of its technological upgrade", the Prime Minister stressed and called on representatives of the IFC to engage in the process of modernizing the Ukrainian economy and industry.

Background

The International Finance Corporation brings together 184 countries of the world, provides advisory assistance, and also seeks assistance from donor countries, which, in addition to consultations, also provide support for major projects and regional programs. The current portfolio of IFC projects in Ukraine makes up $ 695 million. Since 2004, the corporation  has invested in 86 projects being  carried out in Ukraine a sum worth  $ 3.2 billion. Last year, the volume of investment from the IFC amounted to $ 187 million.

IFC's strategy for fiscal years 2017-2021 in Ukraine is designed  to create favorable conditions for attracting investments in the energy sector, to support municipal projects aimed, first of all, at enhancing energy efficiency, in establishing partnership relations with state-owned enterprises for the purpose of reconstruction of the transport infrastructure - roads and ports in cooperation with farmers in the context of increasing their operational efficiency, introducing the latest technologies and standards, and thus opening up access to new markets.