DFC, America’s development bank, approved two investments in Ukraine related to the advancement of energy independence, and support of the hotel construction.
The first project is aimed at advancing energy independence in Ukraine: $62 million in additional political risk insurance will support the expansion of Energy Resources of Ukraine (ERU) Trading, which currently imports, stores, and sells approximately 10 percent of Ukraine’s total annual gas needs. The project will advance energy independence in Ukraine by diversifying gas imports and reducing reliance on Russia.
The second project is focused on spurring economic activity in Ukraine: A $27 million loan will support the construction and operation of a Sheraton hotel in Kyiv, Ukraine that will create jobs, build local supply chains, and encourage trade, investment, and economic growth.
U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. The bank invests across sectors including energy, healthcare, critical infrastructure, and technology. The corporation 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.
Source: USUBC
