The number of projects with the participation of foreign investors and the European Bank for Reconstruction and Development (EBRD) could decrease in Ukraine in 2012 due to the fall of interest to the country, EBRD Country Chief for Ukraine Andre Kuusvek has told Interfax-Ukraine.
"We have proved that we can invest EUR 1 billion in Ukraine annually, but this depends not only on us: we have projects in the private segment, which need real investors, either Ukrainian companies or new foreign investors," he said.
"If they exist, we will finance them, if not – we’ll have nothing to finance. I would speak cautiously about foreign investment next year," he said.
At the same time, he noted that Ukrainian investors were more active in 2011.
"There’s a new wave of local entrepreneurs who are ready to meet our requirements: audit, corporate governance, law. We have seen a 50% rise in the number of projects in the private sector this year," Kuusvek said.
Speaking about projects with the participation of the state and state owned companies, he said that there was only one such project with Ukrhydroenergo, worth EUR200 million, while there were two such projects last year: Ukravtodor and Ukrenergo.
"For sure next year there will be one or two projects in the energy sector, an infrastructure project could be also launched, as there are a couple of projects in the transport sector on which we’re closely working," he added..
He also added that the bank is ready to finance projects involving state owned companies in the gas sector, but reforms in the industry are their conditions. "There is no change as for the gas: we’re always ready – if there is reform, there will be financing," he said, noting that projects in the oil and gas sector will be better run by private businesses.
Commenting on the resumption of privatization in the energy sector, he recalled that the bank had announced its readiness to support potential bidders, including with financing, but the bank hasn’t received any inquiries.
