The International Finance Corporation (IFC) is considering the possibility of financing investment projects submitted by the Ministry of Economy. This was discussed at a meeting between Yuliia Svyrydenko, First vice Prime Minister of Ukraine - Minister of Economy of Ukraine, and Alfonso Garcia Mora, Vice President of IFC for Europe, Latin America and the Caribbean.
The parties discussed both the current economic situation in Ukraine and the prospects for economic recovery. In particular, this is facilitated by business support programmes such as grants, access to finance through affordable lending, employment promotion, investment attraction and war risk insurance.
"During the meeting, we agreed that IFC will analyse existing investment projects for possible financing. We also discussed the potential coordination of private investors' efforts to support small and medium-sized businesses. The IFC will prepare a comprehensive analysis and help to identify the most effective instruments to attract investment and support the private sector. After all, it is the private sector that should become the basis for the reconstruction of Ukraine after the war," stressed Yuliia Svyrydenko.
According to her, the IFC is also considering the possibility of creating mechanisms for financing the reconstruction of housing in Ukraine with the involvement of 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.
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The International Finance Corporation (IFC) is a member of the World Bank Group. One of the most important areas of IFC's work is to mobilise more private capital for development, particularly in low-income countries and in countries with fragility and conflicts. 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 is a member of IFC since 1993.