On 21 June, the European Commission announced more than €800 million in new financing for Ukraine to mobilise private investment for the recovery and reconstruction of the country’s economy.
The agreements were signed on the margins of a conference on the reconstruction of Ukraine held in London by representatives of the European Commission, the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). The agreements are supported by the European Fund for Sustainable Development Plus, the financing arm of NDICI-Global Europe.
The five signed agreements will provide guarantees that de-risk finance for the Ukrainian private sector, including small enterprises, agri-business, and women-led companies:
These agreements are separate to the new €50 billion Ukraine Facility, announced on 20 June 2023 and expected to become operational in 2024.
At the Conference, the European commission also expressed interest to support an innovative pilot scheme by the EBRD – ‘War Insurance Pilot Scheme – Ukraine Recovery and Reconstruction Guarantee’. The scheme will protect future private investments as well as insure international shipping and trade against war-risks.
Also, in the margins of the Ukraine Recovery Conference, the first in person meeting of the Steering Committee of the Multi-agency Donor Coordination Platform for Ukraine co-chaired by the European Commission, the United States and Ukraine, took place. The Steering Committee discussed Ukraine’s urgent priority needs for 2023 and next steps for further coordination on Ukraine’s reform agenda.
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