The U.S. Agency for International Development (USAID) and the U.S. International Development Finance Corporation (DFC) signed today a Memorandum of Understanding (MOU) with the Government of Ukraine to support attracting investments to Ukraine as part of their efforts to help address the country’s urgent development priorities and economic recovery.
Under the MOU, the Ministry of Economy of Ukraine, with USAID support, will help identify and develop private sector projects for consideration for DFC support. DFC intends to work with the Ministry of Economy of Ukraine so that it understands DFC’s investment requirements. Ukrainian Prime Minister Denys Shmyhal, USAID Administrator Samantha Power, and DFC Chief Executive Officer (CEO) Scott Nathan signed the MOU at an event on the margins of the Spring Meetings of the World Bank Group and International Monetary Fund and the U.S. - Ukraine Partnership Forum hosted by the U.S. Chamber of Commerce.
Prime Minister of Ukraine Denys Shmyhal said, “No sustainable growth and recovery of Ukraine is possible without private capital. Therefore, foreign investments will be one of the drivers for the recovery of our economy. War risk insurance is a key tool to attract these investments now, without waiting for the end of the war. We are grateful to DFC for the partnership and help along the way. It is a step of real solidarity with Ukraine.”
USAID Administrator Samantha Power said, “Today's Memorandum of Understanding reaffirms USAID's partnership with the Government of Ukraine and our ongoing commitment to supporting the Ukrainian economy and people in the face of Putin's brutality. Our work together will help spur private sector investments in Ukraine, which is key to the immediate economic recovery and to building a future for Ukraine that is stronger and more prosperous than before.”
“DFC’s commitment to supporting the Ukrainian private sector is enduring,” said DFC CEO Scott Nathan. “We were there before the war, we are there now, and we will be there for the long-term. This MOU demonstrates how DFC, in partnership with our colleagues at USAID, is taking steps to increase our financial support for the businesses and people of Ukraine.”