EU To Provide International Finance Corporation With Investment Guarantees For Ukraine

The International Finance Corporation (IFC) and the European Commission have inked a guarantee agreement to facilitate investment in Ukraine’s rehabilitation.

In a joint statement released in Brussels, the parties stated that « under the agreement, the European Union will provide IFC, a member of the World Bank Group, with up to 90 million euros in financial guarantees to support investments in Ukraine under the IFC Better Futures Program (BFP), »

According to the statement, private investment under the initiative is anticipated to surpass €500 million in all sectors, including the production of goods and basic infrastructure, hence promoting livelihoods and decarbonization.

« This agreement is just one more illustration of how well we’ve worked with IFC to promote investment in Ukraine, said Oliver Varhelyi, an EC member for Neighborhood Policy and EU Enlargement. « This EFSD+ (The European Fund for Sustainable Development Plus) guarantee will help rebuild the country’s infrastructure, support its business sector, and increase the resilience of its economy, reaffirming the European Union’s commitment to support Ukraine in this time of crisis. »

source: ec.europa.eu

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