“Korea allocates $10 million for infrastructure projects in UkraineThe Republic of Korea is launching a new $10 million economic innovation partnership program with Ukraine. The program provides
for strategic consultations and project development for long-term economic cooperation.
”, — write: unn.ua
DetailsThe initiative provides for strategic consultations, project development, and pre-project studies aimed at long-term economic cooperation between Ukraine and the Republic of Korea. It is expected that a total of up to 25 initiatives can be implemented within the program.
The specific sectors and projects that are priorities for funding were discussed at a meeting with the First Deputy Minister of Economy of Ukraine Oleksiy Sobolev and representatives of the delegation of the Korea Overseas Infrastructure & Urban Development Corporation (KIND).
We see great prospects in partnership with KIND within the new program in both the public and private sectors. This includes possible involvement in financing priority initiatives for the government within the Unified Project Portfolio of Public Investments, as well as private projects presented in the Investment Guide. We hope for KIND’s participation in the technical preparation of projects, as we do within PPF and PPU with the World Bank, EIB, and EBRD. Another promising area is privatization – consulting assistance and attracting investors
The Korean state corporation KIND has been implementing projects for the reconstruction of Ukraine for more than 2 years. These include, in particular, the transport master plan for Kyiv Oblast, the plan for the reconstruction and restoration of Ukrainian airports, railway renovation, and other projects involving cities and municipalities.
KIND is also ready to participate in the general planning of industrial parks in Ukraine and work on reducing risks for investors. Opportunities for involving the Republic of Korea in cooperation with the Multilateral Investment Guarantee Agency (MIGA) and with export credit agencies to expand mechanisms for insuring war risks were discussed.
Following the meeting, the parties agreed to coordinate work on each area of cooperation, as well as to sign a memorandum of understanding that would allow starting work on selecting projects for financing and implementation.
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