We should maximize the amount of private financing that comes in

Interview with Alfonso Garcia Mora, IFC’s Vice President for Europe, and Latin America and the Caribbean

What is your plan for Ukraine as IFC’s new Regional Vice President for Europe, Latin America and the Caribbean?

For IFC, Ukraine is a priority country in the region. The economic consequences of the ongoing war in Ukraine are global in nature and go beyond specific countries or even Europe. As the largest global development institution focused on the private sector, we will be strategic to better define and increase the development impact of each project in the region.

Does IFC have any experience of working in a war country?

Absolutely. Global in nature, IFC works in fragile and conflict-affected countries. We’ve worked across regions—Africa, Middle East, South East Asia—during periods of war and post-war.

With the ongoing war in Ukraine, will you be pausing all investments or do you still have other options?

IFC continues to support existing clients with the working capital they need, especially amid the war. We are also exploring options to address both short-term and mid-term recovery efforts across sectors. In this context, the agribusiness sector (for example, grain storages) is critical given the current and potential food security issues in the region as well as globally, for example, North Africa.

Given the war, what are your focus areas in Ukraine?

First, we are trying to think of solutions to support local farmers and grain producers. Second, we want to focus on the country’s energy sector, which is critical given Ukraine’s forthcoming winter and the need for heating, among other things. While we are trying to explore how best we can help, beyond the short-term, our top priorities in Ukraine include