MIGA insures first private investor in Ukraine against war risks

MIGA insures first private investor in Ukraine against war risks

World Bank’s Multilateral Investment Guarantee Agency (MIGA) provided the first investment guarantees for private investors in Ukraine.

"The concluded agreements include insurance in the amount of up to $9.1 million for the M10 Industrial Park project in Lviv. A guarantee is provided for the investment made and the financing involved for the construction and operation of the warehouse complex and related infrastructure in the M10 industrial park. The insurance covers war risks for 10 years," the press service of the Ministry of Economy of Ukraine informs.

It is noted that the MIGA-insured project will contribute to the support for economic growth of Ukraine, the creation of new jobs and tax revenues for the budgets of various levels. The project will receive "green construction" certification. This will allow the creation of new industrial and logistics infrastructure, warehouse space and will contribute to the economic development of the region during the war and the reconstruction of the country after the victory.

"The guarantees provided by MIGA are a positive signal for new potential investors who are considering investment opportunities in Ukraine. This step opens opportunities for business development and the creation of production chains in different regions of Ukraine. We continue to support and promote war risk insurance programs for the private sector in Ukraine and we believe that, in close cooperation with donors and the international financial community, many Ukrainian and foreign companies will be able to apply for and receive new guarantees," said First Deputy Prime Minister of Ukraine – Minister of Economy Yulia Svyrydenko.

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