On Wednesday, August 30, Prime Minister Volodymyr Groysman met with USA Overseas Private Investment Corporation (OPIC) President & CEO, Ray Washburn to discuss the importance of OPIC support to attracting US business to Ukraine, as it is a key way to stimulate investment and economic growth.
The Prime Minister noted that “OPIC support is essential in assisting Ukraine in its transformation. The government’s ongoing structural reforms will continue to facilitate investment and economic growth.”
Ray Washburn used the meeting to announce OPIC support for two banks with the goal of supporting SME development in Ukraine.
In addition, 3 major pipeline projects will be reviewed by the OPIC board in December:
– $250M for EnergoAtom (Holtec project);
– $400M for the planned EuroCape wind farm project to finance GE wind turbines; and,
– $150M to Greenbrier for railroad freight car manufacturing and leasing.
In the meeting, Prime Minister Groysman noted that, “Transparency is the hallmark of my government’s reforms and is essential to reduce the risks associated with doing business in Ukraine. It is also essential to facilitate the modernization of Ukraine’s economy with OPIC support, whether through a strategic partnership with General Electric to modernize Ukrainian State Railways, ensuring Ukraine’s energy security in cooperation with Westinghouse, expanding our alternative energy potential with EuroCape’s landmark wind farm project, or successfully resolving issues of existing investors, such as Cargill and Bunge.
At the same time, we expect all of our international investment partners to maximize the human and manufacturing resources available in our country when investing. We created UkraineInvest to accompany and assist investors in their projects in Ukraine, to make investors feel comfortable and at home.”
OPIC’s Ray Washburn noted the “remarkable progress made by the government with reforms in only 3 years” and that it was encouraging to find that ministers were speaking with one voice about the transformation taking place in Ukraine. “OPIC is ready to help support this reform process.”
UkraineInvest will continue to work to facilitate and further the Ukraine-OPIC relationship.
UkraineInvest Director Daniel Bilak also stated that, “OPIC support is essential to attracting not just US, but other international companies, as it demonstrates confidence in the transformation taking place in Ukraine’s investment environment. UkraineInvest will continue to cooperate with OPIC to ensure that their clients are welcome and successful in Ukraine.”