Sergii Marchenko: Recovery of Ukraine requires cooperation with the private sector to attract investments

On May 12, 2023, Minister of Finance of Ukraine Sergii Marchenko took part online in an international event dedicated to the launch of Ukraine Investment Platform, which was organized by the Japan Bank for International Cooperation (JBIC) in Tokyo, Japan.

The event was attended by representatives of Japan Bank for International Cooperation (JBIC), European Bank for Reconstruction and Development (EBRD), British International Investments (BII), International Development Finance Corporation (DFC), as well as representatives of international investment companies from Germany, France, Italy, Canada and Japan.

The purpose of the Platform is to strengthen cooperation between the G7 countries, DFC and EBRD, working mainly in the private sector, for the recovery of the economy, industry and infrastructure of Ukraine.

The Minister of Finance of Ukraine thanked the Government of Japan for its leadership during the G7 presidency and the representatives of other G7 countries for their unwavering support for Ukraine's sovereignty and territorial integrity.

“Successful recovery of Ukraine will require multi-year participation and international coordination not only from the governments of the partner countries, but also in cooperation with the private sector. The Government of Ukraine works to improve the conditions for attracting private investments, to create a "healthy" environment to encourage business to invest. This will be underpinned by good governance, the rule of law and anti-corruption efforts. Ukraine is interested in private investments in defense, agriculture, IT, renewable energy, gas production and storage, logistics and construction,” said Sergii Marchenko during his speech.

The Minister of Finance of Ukraine informed that Ukraine offers construction sites and tax benefits. In turn, MIGA and DFC offer military risk insurance that covers up to 90% of potential losses.

“Our efforts will be directed as much as possible to insurance of military risks for potential investors, public-private partnership, assistance in financing projects supporting small and medium-sized businesses, which, in turn, provide a large number of jobs,” noted Sergii Marchenko.

During the speech, the Minister of Finance of Ukraine emphasized the priorities of rapid recovery of the private sector:

• Extended access to financing of small and medium-sized enterprises under the “Affordable loans 5-7-9%” program;

• Stimulation of export-import operations;

• Grant support under the “eRobota” program;

• Support of the agricultural sector;

• War risk insurance trust fund.

It was also stated that the Ukrainian Investment Platform will cooperate with the Multi-Agency Donor Coordinating Platform for Ukraine and will contribute to financing the identified needs.

During the event, a joint Statement was signed between participating institutions of the Ukrainian Investment Platform, which confirms readiness to continue providing humanitarian assistance, support the energy sector, and contribute to the economic and financial stability of Ukraine.