On September 9, Minister of Economy, Environment and Agriculture of Ukraine Oleksii Sobolev held a meeting with representatives of the International Finance Corporation (IFC), part of the World Bank Group. The meeting was attended by Deputy Ministers Anna Artemenko, Andrii Teliupa, and Pavlo Kartashov, as well as IFC’s leadership and experts, headed by Inés Rocha, IFC Regional Director for Europe.

Key topics included attracting private capital into the economy through privatization and public-private partnership (PPP) mechanisms, shaping an investment portfolio for domestic and international investors, expanding private sector access to finance, and aligning positions on Ukraine’s new investment strategy.

“Ukraine is moving from preparation to the implementation of large-scale privatization and PPP projects. We expect the first PPP tenders to be launched as early as next year and count on IFC’s expert support in preparing complex transactions. We are also working on developing a full toolkit — from legislation to financial instruments. We believe these projects will drive the inflow of private capital into Ukraine, which is essential for recovery and economic growth,” — said Minister Oleksii Sobolev.

The Ukrainian side also presented its vision for the privatization campaign expected to launch in 2025, with two asset portfolios — strategic enterprises and non-critical state assets. IFC confirmed its readiness to participate in project analysis and preparation of large transactions, as well as to support the attraction of global investors.

A major part of the discussion was dedicated to the development of public-private partnerships. Pilot projects in healthcare (in Zhytomyr and Vinnytsia) were reviewed, along with a new concession for a terminal at the Chornomorsk seaport, which could attract $200 million in investment. The Ministry is working on a full package of secondary legislation for the new PPP Law, as well as the creation of Viability Gap Funding (VGF) mechanisms and a Project Preparation Facility (PPF).

The meeting also touched on recently signed agreements between IFC and PrivatBank: a $100 million risk-sharing program and a $20 million trade finance guarantee line. These instruments are aimed at supporting micro, small, and medium-sized businesses, in particular women-owned enterprises and exporters.

The parties also discussed the importance of mobilizing equity capital for Ukraine’s recovery. In the area of strategic planning, they agreed to coordinate efforts for the presentation of Ukraine’s new Investment Strategy. The Ministry announced that the strategy is finalized and will be presented in autumn 2025 during the World Bank Annual Meetings.

For reference

The International Finance Corporation (IFC) is part of the World Bank Group and has extensive experience in preparing and implementing PPP projects across sectors including logistics, energy, healthcare, and infrastructure. Over the past seven years, the Government of Ukraine has worked closely with IFC to develop PPP capacity.

On December 12, 2022, a Memorandum of Understanding was signed between the Government of Ukraine and IFC, under which IFC acts as a strategic advisor to the government, helping to create conditions for increasing private investment in Ukraine’s infrastructure, particularly under PPPs. Within this framework, IFC continues to provide support in developing financial mechanisms to attract private capital — including through state and donor financing — and in holding tenders for the implementation of critical projects in key economic sectors.