Ukraine and EBRD discuss expanding cooperation to attract investment and finance energy projects
Kyiv • UNN
The Ministry of Economy discussed expanding cooperation with the European Bank for Reconstruction and Development to attract additional resources for Ukraine, in particular for projects in the energy sector, strengthening war risk insurance, increasing financial instruments, and supporting demining and investment initiatives.
The Ministry of Economy discussed the priorities of cooperation with the European Bank for Reconstruction and Development, including initiatives to stimulate investment in Ukraine and opportunities to expand the Bank's portfolio in the energy sector. UNN reports with reference to the Ministry of Economy of Ukraine.
Details
Cooperation with the EBRD was discussed on July 15 during a meeting between First Deputy Minister of Economy Oleksiy Sobolev and an EBRD delegation led by EBRD Managing Director for Ukraine and Moldova Arvid Turkner.
The Government is grateful to the EBRD for its support of economic reforms and projects for the recovery and development of Ukraine. We are interested in further expanding our cooperation to attract additional resources to the country, in particular for the implementation of projects in the energy sector, which is a priority for the government. The key areas of cooperation include strengthening the work on war risk insurance, increasing the variety of available financial instruments, including for the development of the humanitarian demining market and attracting international investment in Ukraine
The parties discussed cooperation under the Ukraine Investment Framework, the second component of the EU's Ukraine Facility financial support program. In particular, as a result of the Bank's signing of financing and pre-financing agreements during the Ukraine Recovery Conference (URC) in Berlin on June 11-12, the EBRD has expanded its available financing in Ukraine during the war to EUR 4.5 billion.
Also , the Ministry of Economy is working on centralized support for businesses, including the private sector, and will release a Handbook at the end of July, which will provide step-by-step instructions on available financing instruments (project financing, bank lending, risk-sharing instruments, available grants and technical assistance) for all types of businesses, as well as all necessary contacts with international organizations, Ukrainian enterprises and potential new businesses in the market.
The parties also discussed cooperation in the framework of the Project Preparation Facility, which the government is working on launching to increase the number of projects ready to attract financing. This will increase the number of projects that will be eligible for funding from the EBRD and other IFIs that have already become partners in the Ukraine Facility program.
