The International Finance Corporation (IFC) will assist Ukraine in restoring infrastructure by creating and implementing mechanisms to attract private investors, the corresponding memorandum of understanding was signed in Paris on Monday by Ukrainian Prime Minister Denys Shmyhal and IFC Vice President for Europe, Latin America and the Caribbean Alfonso Garcia Mora.
"The Russian war against Ukraine has caused unprecedented damage to our country, because the costs of reconstruction are estimated at billions of dollars. Together with IFC, we are working to create conditions for increasing private investment in our economy, especially through the mechanism of public-private partnership," the Ukrainian prime minister said.
The Cabinet of Ministers clarified that cooperation will include assistance in the selection of priority restoration projects and the creation of favorable conditions for attracting private investment. In particular, the matter concerns public-private partnership projects in such sectors as transport and logistics, urban and social infrastructure, and energy.
Mora, for his part, stressed that as one of the largest investors in the private sector in Ukraine, IFC is constantly working to attract private capital to restore Ukraine.
According to the IFC vice president, the corporation will start working with the government of Ukraine to create a favorable environment for private investment in infrastructure, as well as to identify and develop priority projects.
"Thus, it will be possible to quickly mobilize private investors, as soon as conditions in Ukraine allow a full-fledged reconstruction to begin," Mora said.
