23 Mar 2023 12:39

Zelensky's Office deputy head announces project funding concept developed with BlackRock, JPMorgan, McKinsey

MOSCOW. March 23 (Interfax) - A concept of project financing infrastructure created jointly with experts from the BlackRock and JPMorgan investment banks and the McKinsey consulting company will be presented in the next month or two, Ukrainian Presidential Office Deputy Head Rostislav Shurma said.

As Ukrainian media reported, speaking at the Ukrainian Tax Reform and Anti-Corruption Summit in Kiev on Thursday, he said addressing the funding issue is one of the four key tasks for ensuring economic growth along with improving access to the platform by the legal, judicial and taxation systems.

Shurma said that under normal circumstances, businesses need only 10-30% of their own money to start up projects and the rest could be raised from the market, but Ukraine has failed to build such a market over the past 30 years.

The announced concept will present the infrastructure and the portfolio of this possible funding, in particular, involving international export credit agencies, he said.

Speaking about the access to the platform, the deputy head of the Presidential Office said that the matter is about the easy and quick allocation of land, easy obtaining of urban planning approvals and ensuring the required connection to the networks.

Shurma said that there is already a lot of groundwork in this area, including bills, and this issue will be largely resolved in six months.