The International Finance Corporation (IFC) is considering the possibility of financing investment projects submitted by the Ministry of Economy. This was discussed during a meeting between the First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine Yuliia Svyrydenko and IFC Vice President for Europe, Latin America and the Caribbean Alfonso Garcia Mora.
The parties addressed both the current economic situation in Ukraine and the prospects for economic recovery. In particular, business support programmes, such as grant programmes, access to finance through affordable lending, employment promotion, investment attraction and war risk insurance, are contributing to this.
"During the meeting, we agreed that the IFC would analyse existing investment projects for possible financing. We also discussed the potential coordination of private investors' efforts to support small and medium-sized businesses. IFC will prepare a comprehensive analysis and help identify the most effective tools to attract investment and support the private sector. After all, it is the private sector that should become the basis for rebuilding Ukraine after the war," said Yuliia Svyrydenko.
According to her, the IFC is also considering the possibility of creating mechanisms to finance the reconstruction of housing in Ukraine with additional resources from commercial banks. This support will potentially help to reduce preferential lending rates, making mortgages more affordable for a wider range of people.
The International Finance Corporation (IFC) is a member of the World Bank Group. One of the most important areas of IFC's activities is to mobilise more private capital for development, especially in low-income countries and countries with instability and conflict. Since February 2022, the corporation has launched a USD 2 billion programme to support the private sector in Ukraine, of which USD 600 million has already been implemented. Ukraine has been a member of the IFC since 1993.