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DFC CEO Travels to Kyiv in Show of Unwavering Support and Makes Several Announcements to Catalyze $1 Billion in Private Sector Engagement
Includes intent to mobilize $250 million for small businesses in Ukraine
DFC, Wash, D.C. Tue, Jan 31, 2023
KYIV, Ukraine – This week, U.S. International Development Finance Corporation (DFC) Chief Executive Officer Scott Nathan traveled to Ukraine to deepen engagement with the local business community and meet with government ministers. Together with Ukrainian Prime Minister Denys Shmyhal and U.S. Ambassador Bridget Brink at the American Chamber of Commerce, CEO Nathan announced DFC’s intent to mobilize $250 million for banks in Ukraine this year to increase their small business lending, send Washington-based staff temporarily to Ukraine for extended tours to help source transactions, and highlight new potential investments in the health and technology sectors.
“The private sector is resilient and has a crucial role to play in investing for Ukraine’s future,” said CEO Nathan. “I’m here in Kyiv today because we are investing now to help keep Ukrainian businesses moving forward despite the difficult circumstances. I’m convinced that new DFC investments here will mobilize well over $1 billion in private sector capital to support the economy of Ukraine. DFC remains committed to supporting high-standard, high-value projects in this country in the months and years to come.”
During his travel, CEO Nathan, together with Ambassador Brink, met with First Deputy Prime Minister Yulia Svyrydenko and Deputy Prime Minister of Restoration Oleksandr Kubrakov. In conversation with First Deputy Prime Minister Svyrydenko, CEO Nathan discussed the planned cooperation between the U.S. Agency for International Development and the Ministry of Economy through the Advantage Ukraine program. While meeting with Deputy Prime Minister Kubrakov, CEO Nathan discussed DFC’s longstanding commitment to the country and the steps it is taking to invest in Ukraine’s economy today.
While at the American Chamber of Commerce of Ukraine, CEO Nathan announced two letters of intent to explore new investments. First, DFC is working with Horizon Capital to support to eCommerce, fintech, and technology businesses across Ukraine and Moldova. Second, DFC is exploring the expansion of the Dobrobut Hospital in Kyiv, which provides post-surgical, physical, psychological rehabilitation and prosthetic services.
Upon the conclusion of the American Chamber of Commerce in Ukraine event, CEO Nathan and delegation members made a solemn walk to pay respects at the Wall of Remembrance of the Fallen for Ukraine. There, joined by Ambassador Brink, he laid flowers at the foot of the wall.
CEO Nathan’s visit continued with a roundtable meeting with Ukrainian banks to discuss the announcement of the $250 million mobilization commitment for on-lending. During the session, CEO Nathan spoke with leaders of local banks about the challenges they face in the current environment and how DFC financing can help them continue to keep small businesses open, employ fellow citizens, and contribute to the economy. CEO Nathan also met with local energy sector leaders where the discussion focused on the rehabilitation and long-term resilience of Ukraine's electrical power grid, which is crucial for the future of the economy and the well-being of the country.
Today’s meetings and announcements come shortly after CEO Nathan’s visit to Lviv in December 2022, where he announced DFC’s first two investments in Ukraine since the war began. While there, CEO Nathan met with representatives and business leaders to discuss DFC’s support for Bank Lviv and its loans to small and medium sized business. Later, after meeting with students and administration officials, DFC announced its support for Ukrainian Catholic University to help it continue to educate students through the war. During his visit, CEO Nathan emphasized the United States’ enduring and unwavering support for Ukraine, the role DFC can play in its economic recovery, and the importance of Ukraine’s enduring commitment to high economic standards and to overall reform efforts.
U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.