World Bank invests in Ukraine for the first time since full-scale war began

22 September, 08:35 PM
The World Bank has allocated $30 million for investments in Ukraine and Moldova (Photo:Elizaveta Sergienko/NBU Press Center)

The World Bank has allocated $30 million for investments in Ukraine and Moldova (Photo:Elizaveta Sergienko/NBU Press Center)

The World Bank has invested in Ukraine for the first time since the beginning of the full-scale Russian invasion, the Ministry of Economy said in a statement released on Sept. 22.

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

"This will be the first IFC investment in Ukraine since the beginning of the full-scale war, which began in February 2022," the ministry noted.

It is reported that the funds will be channelled through a $200 million trust fund managed by the U.S-Ukrainian investment company Horizon Capital.

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

It is noted that Horizon Capital usually invests about $10-30 million in companies valued at $50-150 million.

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

Earlier, it was reported that an IMF mission will start working on a new special program with Ukraine in October.

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