G7 DFIs and EBRD Collaborate to Establish Ukraine Investment Platform for Reconstruction Efforts
(IN BRIEF) G7 Development Finance Institutions (DFIs) and the European Bank for Reconstruction and Development (EBRD) have announced the establishment of the Ukraine Investment Platform. This collaborative effort aims to support Ukraine’s reconstruction needs following the conflict. The platform will facilitate cooperation, information exchange, and co-financing among participating institutions, with a focus on private sector initiatives. It will also address the needs of neighboring countries affected by the war. The G7’s DFIs and the EBRD will work together to promote measures that address the lack of financial capacity, particularly in the private sector. The ultimate goal is to contribute to Ukraine’s economic recovery, industrial growth, infrastructure development, and the rebuilding of lives, promoting stability in the international community. The EBRD, as the largest investor in Ukraine, will play a crucial role in this initiative, leveraging its expertise and experience.
(PRESS RELEASE) LONDON, 12-May-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, announces that today, the development finance institutions (DFIs) of G7 countries, including JBIC (Japan), JICA (Japan), CDP (Italy), FinDev Canada (Canada), Proparco (France), DFC (US), BII (UK), DEG (Germany), and the European Bank for Reconstruction and Development (EBRD), have come together in Tokyo to announce the establishment of the Ukraine Investment Platform.
Building upon the G7 Leaders’ Statement in February 2023, which reaffirmed their commitment to providing humanitarian assistance and supporting Ukraine‘s energy sector, as well as ensuring its economic and financial stability, the need for coordinated efforts among Ukraine’s partners to maximize effectiveness and impact during the reconstruction phase has become evident.
Recognizing the vast reconstruction needs of Ukraine and the necessity for collaborative action, the G7’s DFIs and the EBRD have engaged in discussions on how to contribute jointly to Ukraine’s reconstruction.
While not all DFIs have a mandate to operate in Ukraine, there is a shared understanding among the G7’s DFIs regarding the significance of taking action to support reconstruction efforts.
Once established, the Ukraine Investment Platform will strive to foster cooperation, facilitate information exchange, and encourage co-financing among participating institutions with a primary focus on private sector initiatives. Furthermore, the Platform will also address the needs of neighboring countries impacted by the conflict and seek to provide support. Close coordination with the G7 Multi-Agency Donor Coordination Platform for Ukraine will ensure alignment with identified needs.
The G7’s DFIs and the EBRD aim to address the lack of financial capacity, particularly in the private sector, by promoting measures in consultation with respective governments.
Furthermore, the collective objective of the G7’s DFIs and the EBRD is to contribute to Ukraine’s economic recovery, industrial growth, infrastructure development, and the reconstruction of people’s lives, ultimately fostering stability within the international community.
With the EBRD already being the largest institutional investor in Ukraine, possessing the necessary expertise, relationships, and operational experience, it will play a pivotal role in this initiative.
The G7’s DFIs and the EBRD have a history of working together to support the real economy, drive reforms, and invest in the private sector at both national and local levels.
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Email: press@ebrd.com
SOURCE: EBRD
