The IFC is set to invest $3B in Ukraine within the next 18 months.

According to regional manager Alfonso Garcia Mora, since the full-scale Russian invasion the IFC, part of the World Bank Group, has ramped up its investment in Ukraine by nearly 300%. To date, $2.2B has been invested in Ukraine, which includes $1.2B in the banking sector, $500M in agriculture, and $300M in infrastructure. Additionally, the IFC granted a $53.87M loan to Galnaftogaz for the development of a 147 MW wind farm in Volyn.

Furthermore, officials from Ukraine’s Ministry of Economy and the IFC have discussed collaboration to enhance the private sector’s role in Ukraine’s reconstruction, improve access to financing and capital markets, and foster public-private partnerships.

The IFC, alongside the World Bank Group, is also providing support for the formulation of an investment strategy, a comprehensive plan designed to mobilize direct foreign investment in key sectors over the next five years.