World Bank President: Private investments may meet one third of Ukraine's needs

The World Bank positively assesses Ukraine's course towards the implementation of reforms and assumes that, under appropriate conditions, private investments may meet a third of the needs for the country’s recovery.

World Bank Group President Ajay Banga said this during a roundtable discussion dedicated to supporting Ukraine in Marrakech, an Ukrinform correspondent reported.

As noted, World Bank Group President and Minister of Finance of Ukraine Marchenko discussed at the meeting how Ukraine could attract more private investment for future growth by defining a clear and predictable policy course in key sectors.

He emphasized that he "was very glad to hear" from the minister that Ukraine was developing such a multi-year plan with reforms that encourage competition and bring the country closer to EU standards.

If appropriate conditions are created, according to our estimates, almost a third of Ukraine's future needs could be met through financing from the private sector, Banga said.

In this context, he noted that the World Bank sees potential, in particular, in the expansion of digital infrastructure in Ukraine, the introduction of green energy technologies and the continuation of land reform. The WB would also like to apply innovations introduced in Ukraine to help other countries experiencing conflict and instability.

As reported, IMF Managing Director Kristalina Georgieva highly praised the efforts by the Ukrainian government in the field of economic management in wartime conditions, noting that the economic recovery is happening faster than the Fund predicted.