By KYIV. Nov 14 (Interfax-Ukraine) – The U.S. International Development Finance Corporation (DFC) will send a special representative to Ukraine to expedite the receipt of investment insurance.
This information was voiced during a meeting between First Deputy Prime Minister of Ukraine – Minister of Economy Yulia Svyrydenko and Director General of DFC Scott Nathan, according to the website of the Ministry of Economy.
“One of the main tasks of the government in this and next years is to support investments from the private sector of the economy. Therefore, we encourage strategic investors to apply for insurance both through the ministry, in the direction of the DFC, and through the future special representative. The insurance instrument for investments in Ukraine is already available. DFC plans to intensify its work in this direction,” Svyrydenko emphasized.
The Ministry of Economy notes that DFC is currently showing interest in financing and insurance in key sectors of the Ukrainian economy, in particular energy projects. The American corporation already has experience in supporting similar projects in other countries, and therefore is ready to support the implementation of such projects in Ukraine.
In total, DFC has already supported a number of projects in Ukraine worth $400 million. In particular, $250 million has been allocated to support the efforts of Ukrainian poultry farmers and grain producers to mitigate the consequences of Russia’s war against Ukraine.
DFC also announced the conclusion of two separate agreements totaling $60 million by Ukrainian banks to mobilize capital to continuously support small and medium-sized businesses by facilitating their access to financing in the country.
The fourth project concerns $50 million guarantees provided to the International Finance Corporation’s (IFC) Global Trade Finance Program, which has expanded Ukrainian banks’ access to international trade finance.
DFC also announced it is providing $25 million in political risk insurance for Superhumans Center, a nonprofit center dedicated to providing prosthetics and rehabilitation for people injured during the war in Ukraine.
“We hope that the corporation’s intention to mobilize $1 billion of investment in Ukraine will very soon lead to the implementation of new projects, including state-owned companies,” Svyrydenko concluded.
DFC is the U.S. government’s development finance agency. It cooperates with the private sector to finance solutions to the most critical problems the world is facing. The corporation invests in various sectors, including energy, healthcare, infrastructure, agriculture, small business and financial services.
