(Finance) – It was published today, on the occasion of themeeting in Tokyo of the G7 DFI Alliance, which includes the G7 Financial Institutions for Development Cooperation – CDP (Italy), JBIC (Japan), JICA (Japan), FinDev Canada (Canada), Proparco (France), DFC (United States), BII (United Kingdom Kingdom), DEG (Germany) – together with European Bank for Reconstruction and Development (EBRD)The Joint Statement for the launch of the Ukraine Investment Platform, co-investment platform for post-conflict reconstruction in Ukraine and conflict-affected countries. Through the platform Ukraine Investment Platformthe G7 DFI Alliance aims to encourage co-financing and co-investment activities to support the private sector for post-war reconstruction in the area and to promote more general collaboration between Financial Institutions for Cooperation and Development and the EBRD in favor of investments that meet high standards of financial transparency, sustainability and impact assessment.
The meeting takes place in conjunction with themeeting of finance ministers and central bank governors of the G7 and precedes the G7 summit in Hiroshima to be held from 19 to 21 May 2023, the seventh under the Japanese presidency.
The G7 leaders’ statement of February 2023 confirmed the G7’s commitment to continue humanitarian assistance, support the energy sector and contribute to maintaining economic and financial stability in Ukraine. “Ukraine’s needs in a period of reconstruction – reads the joint statement – are immense and beyond the reach of any single institution. As a result, close coordination between Ukraine’s partners is needed to maximize effectiveness, create synergies and increase impact.”
Building on the G7 leaders’ statement on assistance to Ukraine, the G7 DFIs and the EBRD they discussed how to work together to help rebuild Ukraine. It is understood that not all DFIs have a mandate to operate in Ukraine. However, the G7 DFIs agree on the importance of measures to support reconstruction. Once these measures are in place, the G7 DFIs and the EBRD aim to expand access to the platform to other institutions investing in Ukraine in the future. The European Development Finance Institutions (EDFIs) have been invited to participate in this process and, together with the G7 DFIs, welcome and support this initiative.
“There Platform for Investments in Ukraine – continues the statement – will aim to strengthen cooperation and promote information exchange and co-financing among institutions involved in the reconstruction of Ukraine, mainly focused on the private sector. In addition, the Platform will also consider the needs of war-affected neighboring countries, seeking to provide its support, and will work in synergy with the G7 Multi-agency Donor Coordination Platform for Ukraine to meet the needs identified in the scope of the latter. The G7 DFIs and the EBRD, in close consultation with their respective governments, will promote measures to address the lack of financial capacity, mainly in the private sector. The G7 DFIs and the EBRD intend to contribute to the recovery of the economy, industry and infrastructure and to the reconstruction of people’s lives in Ukraine, as well as to stability in the international community. The EBRD, as the largest institutional investor in Ukraine, has the skills, relationships and operational experience to play a distinct and important role in the country.”