The IFC has announced a series of agreements for financial and advisory support of Ukraine's private sector
The corporation noted that the private sector could cover a third of the necessary funds for Ukraine's recovery over the next 10 years
The International Finance Corporation (IFC) has published a report outlining a number of agreements for financial and advisory support of Ukraine's private sector, according to the IFC report. It is noted that the private sector in Ukraine could provide approximately $140 billion for the country's recovery over the next 10 years. Preliminary estimates from the corporation suggest that this sum constitutes a third of the overall needs.
However, the organization emphasises that the private sector currently requires support to continue providing jobs, goods and services, as well as tax and export revenues. To this end, a number of agreements with various international companies were signed at the international conference on Ukraine's recovery in London.
To support Ukraine's cross-border trade, the British International Investment (BII), US International Development Finance Corporation (DFC) and the Multilateral Investment Guarantee Agency (MIGA) agreed to provide $75 million to support trade flows of essential goods, including food products.
The United Kingdom will contribute $30 million to the IFC's Economic Resilience Activity (ERA) programme to support energy security. The need for recovery of Ukraine's energy infrastructure is estimated at $47 billion, so an additional $100 million in investment from the UK is expected.
The European Commission, in partnership with the IFC, announced the provision of financing opportunities for small businesses up to 200 million euros. Priority will be given to agribusiness and enterprises owned by women.
The corporation signed an agreement with energy developer Scatec ASA to further enhance energy security, specifically to deploy their container solution for solar energy, Release.
Background. Previously, Mind reported on the amount of aid Ukraine receives from abroad and why it's time to show how the money is being spent.
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