Ukraine’s Economic Development Ministry, IFC sign memorandum of cooperation

"On May 20, First Vice Prime Minister - Minister of Economic Development and Trade of Ukraine Stepan Kubiv signed a memorandum of cooperation between the Ministry of Economic Development and Trade of Ukraine and the International Finance Corporation (IFC, a member of the World Bank Group)," the Ministry’s press service reports.

According to Kubiv, the document will enable the Economic Development Ministry to receive expert support from the IFC concerning the start of the work of the Public-Private Partnership (PPP) Support Agency. The launch of the Agency will contribute to the implementation of new projects, primarily in infrastructure sector, as well as ensure an increase in investments, create new jobs and increase revenues into the budgets of all levels.

Moreover, the minister emphasized the importance of involving the best world experience in the development of public-private partnership projects, and thanked the IFC for its readiness to share this experience with Ukrainian counterparts.

Kubiv placed a special emphasis on the fact that following the signing of the memorandum the PPP Support Agency will begin to develop a number of documents and training personnel in order to start practical work on projects.

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