U.S.' DFC to send special representative to Ukraine

MOSCOW. Nov 14 (Interfax) - The U.S. International Development Finance Corporation (DFC) will send its special representative to Ukraine to speed up the process of securing insurance for investment.

This announcement was made at a meeting between Ukrainian First Deputy Prime Minister and Economy Minister Yulia Sviridenko and DFC CEO Scott Nathan, Ukrainian media said, citing the Economy Ministry's website.

"One of the main tasks facing the government this year and next year is to support investment in the private sector of the economy. The instrument of investment insurance in Ukraine is already available. DFC plans to intensify its work in area," Sviridenko said.

DFC is interested today in financing and insurance in the key sectors of the Ukrainian economy, including energy projects, the ministry said.

DFC has already provided $400 million in support to a number of projects in Ukraine. In particular, $250 million has been allocated to support the efforts of Ukrainian poultry and grain producers to mitigate the impact of the crisis.

DFC also announced the signing of two separate agreements worth a total of $60 million with Ukrainian banks to mobilize capital to provide support to small and medium-sized enterprises by simplifying their access to financing in the country.

Another project involved $50 million in guarantees provided to the International Finance Corporation's Global Trade Finance Program, which has expanded Ukrainian banks' access to international trade finance.

DFC has also announced that it is extending $25 million for insurance against political risks to the Superhumans Center, a non-profit center that provides prosthetic care.

"We hope that the corporation's intention to mobilize $1 billion of investment in Ukraine will lead to the implementation of new projects involving state-owned companies," Sviridenko said.

DFC is a governmental development finance institution, investing across sectors including energy, healthcare, infrastructure, agriculture, small businesses, and financial services.