Kyiv, Ukraine, September 9, 2021—Despite the unprecedented challenges of a global pandemic, IFC's investment and advisory programs have been supporting Ukraine's private sector by improving its access to sustainable finance and reliable digital financial services. These engagements are part of IFC's broader strategy to improve the country's business climate and boost trade competitiveness in infrastructure, agriculture, energy, and health-care sectors while supporting Ukraine's resilient recovery.
Over the past fiscal year, ending June 30, IFC stepped up its sustainable finance activity, providing approximately $135 million in long-term finance and around $65 million under the Global Trade Finance Program (GTFP), aimed at facilitating trade flows, promoting green finance, helping municipalities meet their critical infrastructure needs, and supporting climate-smart agriculture projects in Ukraine.
"Amid the challenges posed by the pandemic, IFC continues to focus on catalyzing the private sector to foster a green and resilient recovery in Ukraine," said Wiebke Schloemer, IFC's Director for Europe and Central Asia. "We are committed to supporting the transformation of the country's business environment, which is key to sustainable and inclusive economic growth."
In addition to its investments, IFC provided advisory services to government agencies and industry associations to help improve the business environment and investment policy through reforms and programs aimed at a strong private sector-led transformation of priority sectors. IFC's advisory work focused on climate change mitigation and adaption, while helping clients improve their environmental, social, and governance (ESG) standards to attract economically and environmentally sustainable investments.
"IFC in Ukraine is at the forefront of climate finance," said Jason Pellmar, IFC's Regional Manager for Ukraine, Belarus, and Moldova. "We will continue partnering with the Government of Ukraine and the private sector to innovate and support the country's ambitions to become more climate resilient. IFC aims to promote the business case for private sector participation in green activities across key sectors of the Ukrainian economy."
To drive the energy transition and combat climate change:
To help boost infrastructure:
To improve access to digital financial services:
To expand access to finance, especially for smaller agricultural producers:
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org
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