The European Commission and the World Bank Group's International Finance Corporation (IFC) have signed an investment support guarantee agreement that will help ensure inclusive and sustainable reconstruction in Ukraine. This was reported by the press service of the European Commission.
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Under the agreement, the EU will provide IFC with financial guarantees of up to €90 million to support investments in Ukraine under the Better Future Program IFC (BFP).
Mobilized private sector investment under the program is expected to reach more than €500 million in a variety of sectors, including core infrastructure and goods production, promoting decarbonization and livelihoods.
In 2022, IFC launched an Economic Resilience Program (ERA) worth $2 billion to support the private sector in Ukraine. Since then, IFC has provided over $650 million in financing and raised over $400 million to support the technology sector, agribusiness, critical exports and imports, and SME finance.