Ukraine Set to Receive $1.9 Billion Investment Boost from World Bank

World » UKRAINE | April 22, 2024, Monday // 13:39
Bulgaria: Ukraine Set to Receive $1.9 Billion Investment Boost from World Bank

The International Finance Corporation (IFC), a financial division of the World Bank, intends to invest 1.9 billion USD in projects in Ukraine over the next 18 months, according to a statement from an IFC official to Reuters.

Lisa Kaestner IFC's regional manager for Ukraine, revealed that more than half of the funds will be sourced from the IFC's own account, with the remainder coming from partners such as Western governments and the European Commission.

While some of the investments will be provided as grants, others will be in the form of guarantees, enabling the IFC to shift its focus towards long-term and high-risk capital expenditures.

Kaestner emphasized the importance of these investments amidst the ongoing conflict, stating, "This will allow us to start looking at investments that are more long-term in nature and more focused on capital expenditures, which are more high-risk because these are assets that can actually, unfortunately, be damaged while the conflict continues."

The upcoming projects are expected to include initiatives such as river transport on the Danube and the development of solar and wind energy production.

Since Russia's invasion of Ukraine in February 2022, the IFC has already financed projects totaling 1.1 billion USD, Reuters reports.

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Tags: World Bank, Ukraine, investment, conflict

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