The FINANCIAL -- IFC, a member of the World Bank Group, and the Swiss State Secretariat for Economic Affairs (SECO) have launched a new program to help improve Ukraine’s business environment, reduce the cost of doing business, and unlock new markets for the country’s agri-producers.
The three-year advisory project focuses on improving procedures for permits, licensing, and inspections across Ukraine. It will also streamline port and river transport regulations to boost trade and exports, and help agribusiness legislation conform to international standards—including rules on food safety and plant and animal health.
“Switzerland has stepped up its support to Ukraine in several key areas, including economic sustainability,” said Holger Tausch, the Director of the Swiss Cooperation Office in Ukraine. “We believe deregulating and developing entrepreneurship are among the reforms now required to help Ukraine kick-start growth.”
The project builds on the results of previous work focused on Ukraine’s crucial agribusiness sector, which included $159 million saved in compliance costs. In addition, with support from IFC, the country carried out a major overhaul of its food safety management systems, including the adoption of a new Food Safety Law, and opened new markets, like poultry exports, to the European Union. The project also helped increase the use of renewable energy in the sector, according to IFC.
“Our new advisory program in Ukraine is focused on helping to create a more favorable, fair, and competitive business environment and reduce the costs of doing business here,” said Rufat Alimardanov, IFC’s Regional Manager for Ukraine and Belarus. “This will help generate more investments in key sectors, including agribusiness and logistics, and boost job creation and long-term economic growth.”
The project is being implemented by the World Bank Group’s Trade and Competitiveness Global Practice and is funded by SECO. It is also part of the World Bank Group’s broader collaboration with the government of Ukraine, which aims to create a strong and sustainable investment climate.
IFC is a leading international investor in Ukraine’s agribusiness sector and supports projects across the value chain with a range of financing and advisory programs.
