Apr 22 2024: According to a World Bank official speaking to Reuters, the International Finance Corporation (IFC), the World Bank’s private investment arm, anticipates financing projects worth $1.9 billion in Ukraine over the next 18 months.
Lisa Kaestner, the IFC’s regional manager for Ukraine, mentioned that more than half of this financing comes from the IFC’s own resources, with the remainder sourced from partners like western governments and the European Commission.
Kaestner explained that these funds would be provided as grants and guarantees, enabling the IFC to shift its investment focus towards longer-term and higher-risk projects, particularly those related to capital expenditure. This shift is crucial due to the potential risk of assets being damaged amidst ongoing conflicts.
She mentioned specific upcoming projects, including river transport initiatives on the Danube and investments in solar and wind energy generation.
Since Russia’s invasion of Ukraine in February 2022, the IFC has already financed projects totaling $1.1 billion, indicating a significant commitment to supporting Ukraine’s economic development despite challenging geopolitical circumstances.