The US International Development Finance Corporation (DFC) has approved five new projects in Ukraine worth over $380 million in total during the final quarter of fiscal year 2023 to support food security, small businesses, healthcare, and trade, Ukraine’s Ministry of Economy announced on 23 October.
“Cooperation between Ukrainian companies and banks with the US International Development Finance Corporation, on the one hand, increases the resilience of Ukraine’s economy, and on the other hand, sends a powerful signal to investors around the world that even during the war you shouldn’t be afraid to invest in Ukraine,” said First Vice Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko.
Specifically, DFC will allocate $250 million to support Ukrainian poultry producers and grain growers in mitigating the effects of Russia’s war on Ukraine. DFC also announced two separate $30 million agreements with Ukrainian banks to mobilize capital for sustainable support of small and medium-sized businesses by facilitating their access to financing in Ukraine, with each transaction supported by USAID technical assistance.
Additionally, DFC will provide $50 million in guarantees for IFC’s Global Trade Finance Program, expanding Ukrainian banks’ access to trade finance. DFC said this project supports critical import and export flows for Ukrainian companies.
DFC also announced $25 million in political risk insurance for the Superhumans Center, a non-profit providing prosthetics and rehabilitation for Ukrainians injured during the war.
DFC partners with the private sector to finance solutions to the world’s most critical challenges, investing across sectors like energy, healthcare, infrastructure, agriculture, small businesses, and financial services.
Read also:
