The main areas of implementation of this program are trade financing for Ukrainian banks, the agricultural sector, and small and medium-sized business entrepreneurs.

The Board of Directors of the International Finance Corporation (IFC), which is part of the structure of the World Bank, supported the Ukrainian business financing program for 2 billion dollars.

This was reported by the press service of the Ministry of Economy, noting that the IFC Board of Directors also approved two separate projects for the private sector: for the French company EnVivo, which has agribusiness in Ukraine, as well as military risk insurance for Raiffeisen Bank.

“The main areas of implementation of this program are trade financing for Ukrainian banks, the agricultural sector, and small and medium-sized business entrepreneurs. The fact that the corporation’s management supported the proposal to allow IFC to work with state-owned companies is also very important. This was done as an exception for Ukraine. In general, IFC work with state-owned companies is practically prohibited,” said Yuliya Svyridenko, First Vice Prime Minister and Minister of Economy.

“This is a positive sign for many investors who are considering whether it is worth investing in Ukraine right now. Such financing is expected to mobilize private credit capital, because IFC usually finances no more than 30% of the project cost, bringing commercial banks and others to the financial consortium MFI. Thus, the total amount of projects of Ukrainian enterprises that can be financed can amount to more than 6 billion dollars,” concluded the head of the Ministry of Economy.

International Finance Corporation (IFC):

The International Finance Corporation (IFC) belongs to the World Bank Group. One of the most important areas of IFC’s activity is the mobilization of large amounts of private capital for the purpose of development, primarily in low-income countries, as well as in states with instability and conflicts. Ukraine has been a member of the IFC since 1993.

In September 2022, IFC allocated $30 million for investments in Ukraine and Moldova.

Financial assistance to Ukraine:

On November 22, 2022, it became known that the United States of America will allocate an additional $4.5 billion in direct budget support to Ukraine. Funds will start disbursing in the coming weeks.

In addition, the Canadian government announced the start of issuing five-year “Ukrainian Sovereignty Bonds” in the amount of 500 million Canadian dollars to support Ukraine on the eve of the difficult winter period.

Earlier, the head of the European Commission, Ursula von der Leyen, announced that the EC would allocate another 2.5 billion euros to Ukraine. She noted that in 2023, 18 billion euros are scheduled to be allocated with regular payments.

On November 22, 2022, the World Bank allocated $60 million in soft loans to Ukraine.