From Reuters By Victoria Waldersee and Karin Strohecker
Jan 11 (Reuters) – The World Bank’s private investment arm has mobilised nearly $1 billion to rebuild Ukraine’s private sector and is shifting its broader investment focus towards equity, its managing director told Reuters.
Around $620 million of the funds mobilised for Ukraine – part of a $2 billion package announced in December 2022 – are from the investment arm’s own balance sheet and another $360 million from external financing, said Makhtar Diop, managing director of the International Finance Corp (IFC).
But the path ahead is not without its challenges.
“First of all we need to continue to monitor how the political situation evolves and there are some concerns,” said Diop, speaking ahead of the World Economic Forum in Davos.
“We will need to continue mobilising more resources to guarantee a little bit some of the investments that we’re doing because we take a lot of investment on our own balance sheet,” he said, adding that the IFC was more exposed to Ukraine than other development agencies.
Voice of Ukraine 