The World Bank is considering a $1.5B investment in Ukraine’s economy.

The World Bank’s private investment arm is considering investing $1.5B in several sectors of Ukraine’s economy, including banking, agriculture, and infrastructure, said a senior International Finance Corporation (IFC) official.

Alfonso García Mora, IFC’s Vice President for Europe, Latin America, and the Caribbean, praised the resilience of Ukraine’s private sector during the war and said the IFC has provided nearly $400M in support since the Russian invasion began almost 17 months ago. García Mora said the funds have supported foreign trade and key sectors in agribusiness and IT. As for the IT sector, García Mora believes that it can become a revolution in Ukraine, contributing to its recovery and creating a more innovative and diversified economy.

According to him, the IFC will focus on the agribusiness sector and plans to support the banking sector as well, and is counting on longer-term infrastructure projects taking shape in the future.