Shurma announces project finance concept created with BlackRock, JPMorgan, McKinsey

The project finance infrastructure concept, created jointly with experts from BlackRock and JPMorgan investment banks and McKinsey consulting company, will be presented in the next month or two, Deputy Head of the Office of the President of Ukraine Rostyslav Shurma has said.

Speaking at the Ukrainian Tax Reform and Anti-Corruption Summit on Thursday in Kyiv, he said that addressing the issue of funding is one of the four key challenges for economic growth, along with improving access to the market, the legal and judicial system, and taxation.

Shurma said that under normal conditions, a business needs 10-30% of its own funds to start projects, while the rest of the financing can be raised on the market but Ukraine has not managed to build such a market in 30 years.

According to him, the announced concept will present the infrastructure and a portfolio of such possible financing, including with the involvement of international export credit agencies.

The deputy head of the Office of the President said that it concerns easy and quick provision of land, simple obtaining urban planning approvals and ensuring the necessary connection to the networks.

As Shurma said, a lot of groundwork has already been made in this direction, including bills, and this issue will also be largely resolved in six months.

Source: www.en.interfax.com.ua