IFC Ukraine Investment Climate Project

The Investment Climate Project of the World Bank Group in Ukraine is supported with the funds from the Canadian International Development Agency (CIDA), the Ministry of Economic Affairs of the of the Netherlands and the Swedish International Development Cooperation Agency (SIDA).

The purpose of the project is to improve the business and investment environments and make them conducive to the development of small and medium sized businesses in Ukraine

The objectives of the project are:

§ to contribute to the streamlining of the regulatory framework for inspections, permits, technical regulations, insolvency and food safety regimes and align them with international best practice,

§ to monitor the business environment through representative surveys ;

§ to conduct outreach, advocacy and awareness raising initiatives to ensure the adoption and implementation of reforms.

The IFC IC project in Ukraine has three interlinked and integrated dimensions in its structure: policy, surveying and communications. Policy is the overarching area with surveying and communications functions supporting all policy related efforts.

Policy. The project assists the government of Ukraine in improving the regulatory framework of the permit, inspections, technical regulations, insolvency and food safety systems. It advises its stakeholders on how to best align the existing regulations with international best practice and to make Ukrainian businesses competitive on the developed markets. The project also supports the implementation of reforms that were adopted..

Surveying. The project checks how successful the reform has been, how thoroughly it has been implemented, how it has influenced the overall business environment. This is done by surveying the business community. Survey results are then used to address any identified weaknesses and to develop solutions for improvement.

Communications. Communication is essential in the reform process, speeding up both reform adoption and its implementation. The project engages with the media and with the business community to promote the reform and make sure businesses understand changes and how they impact their operations