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IFC plans to approve $1 bln for Ukraine in Nov – Economy Ministry
KYIV. Sept 16 (Interfax-Ukraine) – The International Finance Corporation (IFC), part of the World Bank Group, plans to submit a $1 billion financing package for Ukraine to its board of directors in November, including direct lending, financial guarantees and trade finance instruments, Deputy Economy Minister Oleksandr Hryban said.
"It is expected that such financing will also mobilize private loan capital, because the IFC usually finances no more than 30% of the project cost, including commercial banks in the financial consortium. Thus, the total volume of projects of Ukrainian enterprises that can be financed will be more than $ 3.3 billion," he said.
Hryban added that the IFC is also actively working with the European Fund for Sustainable Development (EFSD), which has already received a request for $2 billion. According to him, these funds are also planned to be used to introduce financial instruments to support Ukraine.
