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How war in Ukraine gave birth to a new kind of reconstruction finance

Firefighters putting out a blaze caused by a Russian strike. Photo by Lviv Oblast Military Administration

Every month since Russia's full-scale invasion, European Bank for Reconstruction and Development (EBRD) officials have sat down with their Ukrainian partner banks to ask the same question: where are the gaps?

Those routine questions have become an unlikely source of financial innovation. As Ukrainian banks identify problems that existing financial products can't solve, the EBRD has begun developing new wartime lending tools to fill them.

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Exclusive: IFC plans €50 million pilot for Ukraine PPP facility; Lviv's Unbroken first under consideration

Exclusive: IFC plans €50 million pilot for Ukraine PPP facility; Lviv's Unbroken first under consideration

The International Finance Corporation plans to launch a €50 million donor-funded program as a pilot for its proposed Viability Gap Facility meant to make certain Ukrainian infrastructure public-private partnerships more commercially viable, a senior IFC official said. The pilot is expected to cover two or three projects, with

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