Today, June 20, First Deputy Prime Minister, Minister of Economic Development and Trade of Ukraine Stepan Kubiv inked a Memorandum of Cooperation between Ministry of Economic Development and Trade and the International Finance Corporation (IFC, a member of the World Bank Group)
"This document will enable the Ministry of Economic Development and Trade to receive expert support from the IFC concerning the start of the work of the Public-Private Partnership (PPP) Support Agency. The launch of the Agency will allow to implement qualitatively new projects, primarily in infrastructure sector, to leverage investments, to create new jobs and to increase revenuein the budgets of all levels," Stepan Kubiv stressed.
Moreover, the First Deputy Prime Minister emphasized the importance of involving the best world experience in development of public-private partnership projects and he thanked the IFC for its readiness to share this experience with Ukrainian counterparts.
"Each country has its best practices in the work of institutions that implement public-private partnership mechanisms. The main functions of PPP Support Agency will be identification of PPP projects, preparation of feasibility studies for state partners, assistance in preparing competitive documentation, conducting trainings and conferences, etc. All this will contribute to the implementation of quality and investment-attractive projects in the transport, communal, energy, social and other fields that will be beneficial for investors, economy and society of Ukraine," Stepan Kubiv said.
The First Deputy Prime Minister placed a special emphasis on the fact that following the signing of the Memorandum the PPP Support Agency will begin shaping a number of documents and training personnel in order to start practical work on projects.