The World Bank will join the development of the mortgage market in Ukraine – the delegation met with the management of UFHC 

Yuliia Svyrydenko, First Vice Prime Minister and Minister of Economy of Ukraine, and Ievgen Metsger, Chairman of Management Board at UFHC, held a working meeting with Gevorg Sarkisian, Head of the World Bank’s Ukraine Country Office, and Roman Kachur, Deputy Executive Director of the World Bank. The parties discussed opportunities for cooperation to develop the mortgage market in Ukraine. As a result of the dialog, the World Bank experts expressed their interest in further support of UFHC. In particular, they agreed to provide technical and advisory assistance, which will begin with the company’s diagnostics scheduled for this fall.   

“We invite the World Bank to cooperate, particularly, we need support in developing the private sector and attracting investments, increasing the capacity of public-private partnerships, implementing the affordable mortgage program ‘yeOselia’, etc.”, emphasized Yuliia Svyrydenko. 

The parties agreed to jointly search for long-term lending instruments for UFHC or provide financial guarantees for the implementation of the state housing policy. This will allow to expand the financing opportunities for the state program ‘yeOselia’ in the future. 

Ievgen Metsger emphasized the importance of strengthening international cooperation, which will create the preconditions for attracting external financing for the development of affordable mortgage lending to the population. “We have agreed on a number of meetings with representatives of the World Bank Group, in particular with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) to identify options and scenarios for cooperation. We are currently consulting with the IFC on the possibility of creating a joint loan product,” he summarized.