#Ukraine is the country that undergoes a protracted economic crisis, so its #government tries to go above and beyond to #attract #investments into different sectors. One of such #investors turned out to be the #OFID, short for the #OPEC Fund for International Development that spotted an #investment_opportunity in the struggling country.
Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities
OFID is a government-to-government investment institution that lends financial support to the member states of the Organization of the Petroleum Exporting Countries (OPEC), as well as the governments of developing countries. The Fund is currently providing aid to 134 countries, including Ukraine. Its focus areas range from agriculture to telecommunications. The OFID’s financial commitments are divided between public sector operations, private sector operations, trade finance facility, and grants.
According to the Governmental Portal, the deal with the government of Ukraine, which gives a substantial inducement and reliable protection of investments into the country’s economy, was signed on Friday, May 26, in the OFID’s headquarters in Vienna, Austria.
The agreement will provide the basis for the effective administering of invested funds and stimulate the further flow of capital investments into key sectors of the Ukrainian economy.
“We regard the OFID as the valuable partner and the influential financial institution. The agreement will intensify the mutually beneficial cooperation between Ukraine and the Fund for the purpose of reaching the sustainable social and economic growth, as well as stimulate the development of human potential in order to enhance the quality of life of Ukrainian people”, stated Stepan Kubiv, the First Deputy Prime Minister of Ukraine, during the signing ceremony.
He also reminded that the OFID provides funds for the public sector without any additional requirements, whilst the investments in the private sectors have to be coordinated with the government of a recipient country.