EU and IFC to Unlock Over €500 Million in Private Sector Investments for Reconstruction in Ukraine
Brussels, February 5, 2024 – “The European Commission and IFC have just signed a guarantee agreement to support investments that will help drive an inclusive and sustainable reconstruction in Ukraine.
Through the agreement the European Union will provide up to €90 million in financial guarantees to support investments in Ukraine to IFC, a member of the World Bank Group, as part of IFC’s Better Futures Program (BFP). Mobilized investments under the program by the private sector are expected to reach more than €500 million across sectors including essential infrastructure and goods production, promoting decarbonization and the preservation of livelihoods.
“Support from the European Commission has been and will continue to be instrumental in our efforts to extend and scale up crucial investments in Ukraine,” said Alfonso García Mora, IFC Vice President for Europe, Latin America and the Caribbean. “With the EFSD+ guarantee, we are moving fast to implement innovative and impactful projects and back private sector companies, fulfilling our commitment to mobilize private capital to support Ukraine’s economy and reconstruction.”
Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi, added: “This agreement is yet another example of our excellent cooperation with IFC in our effort to boost investments in Ukraine. This EFSD+ guarantee will help rebuild the country’s infrastructure, support its business sector, and strengthen the resilience of its economy, reaffirming the European Union’s commitment to stand by Ukraine in this time of crisis.”
https://pressroom.ifc.org/All/Pages/PressDetail.aspx?ID=28016
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