At the Ukraine Recovery Conference in Rome, the Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group, announced new guarantees worth €185 million for two projects.
According to Ukrinform, this was reported by the Ministry of Economy of Ukraine.
“A guarantee of €100 million was issued to BNP Paribas S.A., and €85 million to ING Bank N.V. to cover their investments in subsidiary banks in Ukraine. This will reduce risks in the banks’ balance sheets and ensure further lending to businesses. The guarantees are implemented through the SURE Trust Fund using private reinsurance at a ratio of 1 to 3.7,” the statement said.
It is noted that since the beginning of Russia’s full-scale invasion of Ukraine, MIGA has issued new guarantees worth $448 million for Ukrainian projects.
“MIGA guarantees are a key tool for reducing risks for foreign investors and banks operating in Ukraine. They ensure the continuity of the financial sector, support lending to small and medium-sized businesses, and attract investment for the country’s recovery and reconstruction,” commented First Deputy Prime Minister of Ukraine — Minister of Economy Yuliia Svyrydenko.
As reported, during the Recovery Conference in Rome, Ukraine joined the European Social Fund Plus (ESF+) as an associate member.
Photo: minfin.com.ua
Source: World Bank insures €185 million for two Ukraine projects
