U.S. corporation to allocate $250M to support Ukrainian business – PM Shmyhal

The U.S. International Develment Finance Corporation (DFC) will allocate $250 million to support Ukrainian small and medium-sized businesses in 2023.

Prime Minister of Ukraine Denys Shmyhal wrote this on Telegram, Ukrinform reports.

"The U.S. International Develment Finance Corporation (DFC) is willing to support Ukrainian business," the Prime Minister wrote.

According to him, DFC CEO Scott Nathan said at a meeting that the corporation would attract $250 million this year to help finance small and medium-sized business support programs.

Read also: Shmyhal outlines five Ukraine’s reconstruction priorities

In total, DFC announced plans to raise up to $1 billion to support the Ukrainian economy, Shmyhal added.

"We discussed instruments for attracting investments. Separately, we touched upon the issue of launching a stock market in Ukraine. We also jointly ened an event at the American Chamber of Commerce and Industry, where we focused in more detail on areas of business and economy support," he noted.

Shmyhal added that he appreciates DFC's willingness to provide financing to Ukrainian companies, and emphasized that becoming part of Ukraine's recovery today is the most powerful investment in the future.

As reported, the Ukrainian Ministry of Economy announced that the Eurean Bank for Reconstruction and Develment (EBRD) is preparing a $3 billion program for Ukraine, and the International Financial Corporation – a $2 billion program.