Economy 2023-09-15T04:50:28+03:00
Ukrainian news
World Bank Allocates Ukraine First Money For Investments Since Beginning Of War

World Bank Allocates Ukraine First Money For Investments Since Beginning Of War

war, Ukraine, World Bank, investments, war with Russia, full scale Russian invasion, IFC

The International Finance Corporation (IFC), which is part of the structure of the World Bank, allocated USD 30 million for investments in Ukraine and Moldova.

This was reported by the Ministry of Economy of Ukraine, Ukrainian News Agency reports.

The money will be channeled through a USD 200 million trust fund managed by the American-Ukrainian investment company Horizon Capital.

It will invest in fast-growing technologies, as well as export-oriented companies operating mainly in Ukraine and Moldova.

This will be the first IFC investment in Ukraine since the full-scale war that began in February 2022.

The specificity of Horizon Capital's work is that the company usually invests approximately USD 10-30 million dollars in companies with a value of approximately USD 50-150 million.

The investment fund focuses on companies in the information technology (IT), e-commerce, innovative consumer goods and fintech sectors.

It is expected that, along with IFC, other potential investors will soon join investments in Ukraine, including the following banks and funds: the European Bank for Reconstruction and Development (EBRD), the German Investment and Development Corporation (DEG), the Swiss Investment Fund for Markets (SIFEM), Dutch Finance Company for Developing Countries (FMO), Western NIS Enterprise Fund, Rockefeller Foundation and others.

As Ukrainian News Agency earlier reported, in mid-September, the State Budget of Ukraine received a grant from the USA in the amount of USD 1.5 billion from the Trust Fund of the World Bank.