The International Finance Corporation (IFC), the investment arm of the World Bank, announced today, Friday, that it "is considering investing $1.5 billion in the banking sectors and businesses related to agriculture and infrastructure in Ukraine." Alfonso Garcia Mora, the regional deputy director for Europe, Latin America, and the Caribbean, praised the resilience of the Ukrainian private sector during the war, stating that "the institution has provided support of approximately $400 million since the onset of the Russian invasion nearly 17 months ago."
Garcia Mora clarified that "the institution will continue to focus on agriculture-related businesses and plans to support the banking sector, aiming to increase long-term projects in infrastructure." In an interview with Reuters while in Kyiv to celebrate the reopening of the World Bank Group office in the Ukrainian capital, he stated, "I would like to invest this amount of $1.5 billion over the next 12 to 18 months."
These funds have been used to support foreign trade and businesses related to agriculture and information technology. Garcia Mora mentioned that "the information technology sector could become a revolution in this country," as it will contribute to stimulating Ukraine's recovery and rebuilding a more diverse and innovative economy.
