IFC, Infrastructure Ministry sign Memorandum of Understanding

The Infrastructure Ministry and the International Finance Corporation (IFC) have signed Memorandum of Understanding. The cooperation is aimed at developing public-private partnership (PPP) in the field of transport and attracting investments in infrastructure, the ministry’s press service reports.

"IFC will help to structure PPP projects at two Ukrainian ports - State Enterprise Stevedoring Company Olvia and State Enterprise Kherson Commercial Sea Port. IFC will also study the possibility to structure a PPP project for the development of a railway ferry complex at State Enterprise Chornomorsk Commercial Sea Port,” reads the report.

Infrastructure Minister Volodymyr Omelian noted that these projects are of great importance for Ukraine, which is the leading grain exporter but because of outdated infrastructure, international trade is often expensive and time-consuming. It is envisaged that the modernization of the shipping infrastructure, in particular the Black Sea ports, will help increase exports and promote economic development, he added.

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