The Deputy Minister of Economy of Ukraine, Oleksandr Hryban, confirmed that negotiations with international donors are underway to create a trust fund (referred to as an insurance pool).
The fund will provide reinsurance potential to increase interest from international financial institutions such as MIGA and DFC in the insurance of investment projects. Ukraine expects the fund to accumulate $510M this year, which will double due to the multiplier effect and the attraction of private capital. Most of these funds will then go to support long-term investments.
“In addition, by mobilizing large international reinsurers, we hope to launch the Ukrainian insurance market in the short term, particularly in cooperation with the National Bank of Ukraine,” said Hryban. Four options for Ukraine’s access to the international insurance market are being generally considered.