Ukraine—Investment for Business Resilience Activity

Building on three decades of support to Ukraine’s financial sector, including the recently completed Financial Sector Transformation Activity (FST)—the Investment for Business Resilience Activity (formerly called Financial Sector Reform (FSR) Activity) supports Ukraine’s economic development and growth.

The Investment for Business Resilience Activity works closely with the Government of Ukraine and financial sector authorities, banks and nonbank financial companies, and business and civic organizations. The team coordinates its activities with international financial institutions including the International Monetary Fund, the World Bank, multilateral lenders and donors, and financial sector standards-setting bodies.

As a result of Russia’s invasion of Ukraine, the Investment for Business Resilience Activity currently focuses on getting needed finance in the hands of businesses to rebuild and grow. The Activity incentivizes local financial institutions to increase lending to enterprises, including women-owned and conflict-affected businesses. At the same time, it provides direct funding to Ukrainian businesses to invest, grow, and substantially increase jobs, sales, and exports. The project provides grants to enterprises with growth potential in job creation, domestic sales, and exports through its grants program.

Sample Activities

• Increase private sector access to finance by providing grants to enterprises with growth potential in job creation, domestic sales, and exports.
• Work with existing channels such as financial institutions, business support programs, and chambers of commerce to efficiently identify quality investments.
• Engage with private financial institutions, insurance companies, financial tech firms, and associations to expand and offer new financial services and instruments to businesses and consumers.
• Improve market regulation, oversight, and supervision; draft EU-compliant laws and regulations for the government and support the development of policies to advance bank and nonbank reforms.
• Work with the government, research organizations, business associations, civic organizations, the media, and other watchdog organizations to communicate effectively about financial sector issues to increase transparency and accountability.
• Promote financial literacy for citizens and businesses.