The World Bank is ready to support investments in the Ukrainian economy. This was confirmed by Vice President of the International Finance Corporation (IFC) Mohamed Gouled during a meeting with First Deputy Prime Minister - Minister of Economy of Ukraine Yuliia Svyrydenko.
The parties discussed plans to increase financing of business projects in Ukraine for the next year. In addition to traditional agricultural sector, the negotiations were focused on enterprises of systemic importance for the entire economy: transport, energy, banking system.
“We are actively working on finalizing all preparatory formal procedures to announce the volumes and areas of financing for IFC projects as early as next year. Also, within the framework of the World Bank Group we are working with MIGA on a pilot project for the insurance of war risks. Despite the war, the economy of Ukraine does not stop and will continue to develop,” Yuliia Svyrydenko assured.
The First Deputy Prime Minister thanked her counterpart for unprecedented multibillion-dollar assistance provided by the World Bank to Ukraine in wartime.
Yuliia Svyrydenko suggested that more focus should be made on financing business in times of war. Indeed, today it is the main priority for cooperation between the Ministry of Economy and the World Bank Group.
“In this context, it is especially important to support enterprises that work no matter what and encourage new investments. Business development in times of war is the main priority for cooperation between the Ministry of Economy and the World Bank Group,” said Yuliia Svyrydenko.
During martial law the World Bank approved three loans for Ukraine totaling EUR 1.85 billion and USD 91.16 million.
Today, Ukraine is implementing a joint project with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) “Public Expenditures for Administrative Capacity Endurance” (PEACE) for a total amount of USD 7.3 billion.
Assessment of damage caused by the war and planning of post-war reconstruction is carried out in active cooperation with the World Bank.