A new Ukraine Investment Platform has been launched, following an agreement between development finance institutions (DFIs) of the G7 countries and the European Bank for Reconstruction and Development (EBRD) in Tokyo on Friday (12 May).
In a G7 Leaders’ Statement in February 2023, the group confirmed their continued assistance to Ukraine’s energy sector and commitment to maintaining the country’s humanitarian, economic and financial stability.
Based on the statement, the G7’s DFIs and the EBRD have held discussions on how they can work together to contribute to the reconstruction of Ukraine. It is understood that not all DFIs have a mandate to operate in Ukraine. Nevertheless, the G7’s DFIs are “aligned on the importance” of action being taken to support reconstruction, the EBRD said.
The Ukraine Investment Platform will aim to strengthen cooperation and promote information exchange and co-financing among participating institutions for the reconstruction assistance of Ukraine, with a predominantly private sector focus.
Once established, the G7’s DFIs and the EBRD will look to expand this platform to other institutions investing in Ukraine in the future. The European Development Finance Institutions (EDFI) have been invited to this process and, along with the G7’s DFIs, welcome and support this initiative, the EBRD said.
It will also consider the needs of neighbouring countries affected by the war and seek to provide support. The platform will be coordinated with identified needs under the G7 Multi-Agency Donor Coordination Platform for Ukraine, launched in January earlier this year.
Additionally, the G7’s DFIs and the EBRD, in close consultation with respective governments, will promote measures to address the lack of financial capacity in Ukraine, especially in the private sector.