Ukraine Donor Platform Steering Committee discuss attracting private capital for Ukraine’s recovery
On March 24, under the chairmanship of Oleksii Sobolev, Minister of Economy, Environment, and Agriculture of Ukraine, a separate session of the 16th Steering Committee of the Ukraine Donor Platform and the Business Advisory Council (BAC) was held, dedicated to mobilizing private capital for the recovery and reconstruction of Ukraine.
The meeting featured Barbara Cimmino, Vice President of the General Confederation of Italian Industry (Confindustria) and Chair of the Business Advisory Council (BAC); Gert-Jan Koopman, Director-General of the European Commission’s Directorate-General for Neighborhood and Enlargement Negotiations(DG ENEST), and Kirsten Selinger, Acting Coordinator of U.S. Assistance to Europe, Eurasia, and Central Asia.
The Ministry of Economy, Environment and Agriculture presented its vision for the future development of Ukraine’s economy and called on partners to collaborate on strengthening the implementation of the Ukraine Investment Framework; improving de-risking mechanisms, particularly by further strengthening the guarantee instruments implemented by international financial organizations; access to war risk insurance; and support for the launch of the Viability Gap Fund (VGF) to implement public-private partnership projects.
“Private capital is essential for Ukraine’s recovery and economic growth, which is why the Government is focusing on strengthening the implementation of the Ukraine Investment Framework, expanding war risk insurance mechanisms, improving de-risking mechanisms, and launching the Viability Gap Fund. We are grateful to our partners for their collaboration in this area and for their participation in improving the investment environment to attract the private sector to Ukraine’s recovery,” noted Oleksii Sobolev.
BAC members also reported on the results of their work and discussed with the heads of leading Ukrainian companies the challenges of investing in wartime conditions and possible solutions to improve the investment environment.
The meeting took place as part of the Business Advisory Council’s first visit to Kyiv.
As a reminder, the Recovery and Reform Delivery Office of the Cabinet of Ministers of Ukraine serves as the Kyiv office of the Secretariat of the Ukraine Donors Platform*.
Background information
The Business Advisory Council (BAC) was launched during the Ukraine Recovery Conference (URC), which took place in Berlin in June 2024. The BAC provides advisory and expert support within the framework of the Ukraine Donor Platform to promote progress in developing Ukraine’s investment climate and attract private-sector investment.
The Ukraine Donor Platform brings together 25 permanent and temporary members and observers, as well as 7 participants, including international financial organizations and the OECD. The Platform’s Steering Committee consists of senior officials from Ukraine, G7 countries, and the European Union. International financial institutions and organizations also participate in Steering Committee meetings as active participants.
*The Kyiv office of the Platform Secretariat is funded by the European Union under the “Ukraine Recovery and Reform Architecture” (URA) program, which is administered and implemented by the European Bank for Reconstruction and Development (EBRD).