Kyiv, Ukraine, April 2, 2008—IFC,
a member of the World Bank Group, today released the results of a survey
on Ukraine’s leasing market that highlights the sector’s growth and investment
opportunities. The presentation of the results coincided with the
official completion of the IFC Ukraine Leasing Development Project, which,
for the last four years, has worked to help develop the leasing industry
and the Ukrainian Union of Lessors.
The project, established in March 2004, has helped the Ukrainian government
draft three leasing acts and has recommended improvements to 19 leasing-related
legislative acts, including a law on financial leasing. It has also
provided consulting services to leasing companies, helped establish a certified
leasing program, implemented a public awareness campaign, published a magazine,
and attracted 70,000 visitors to its Web site, www.leasing.org.ua.
“More than 1,500 jobs have been created in the leasing industry since
2004, in addition to those created by businesses that use leasing to expand
operations. IFC has helped increase the level of professionalism
in the industry by providing training to more than 400 representatives
of Ukraine’s financial institutions,” said Frédéric Hamain, Head of the
Supervisory Board for the Ukrainian Union of Lessors and General Director
of ALD Automotive Ukraine.
“We are proud of the remarkable growth of Ukraine’s leasing industry
since the project began. The total value of the leasing market has
reached almost $4 billion, and it is expected to expand significantly.
Through the project, foreign leasing companies were able to enter
the market and increase competition, bringing the overall cost of leasing
down and improving access to underserved markets,” said Ernst Mehrengs,
IFC Project Manager.
The Ukrainian Union of Lessors will continue to lobby the government for
better legislation and regulations. It will also conduct annual market
surveys, manage the Web site, and provide training to leasing professionals.
The project’s magazine, Leasing in Ukraine, has been transferred
to a local publishing house.
The IFC Ukraine Leasing Development Project was financed by the Dutch Ministry
of Economic Affairs.
IFC, a member of the World Bank Group, fosters sustainable economic growth
in developing countries by financing private sector investment, mobilizing
private capital in local and international financial markets, and providing
advisory and risk mitigation services to businesses and governments. IFC’s
vision is that poor people should have the opportunity to escape poverty
and improve their lives. In FY07, IFC committed $8.2 billion and mobilized
an additional $3.9 billion through syndications and structured finance
for 299 investments in 69 developing countries. IFC also provided advisory
services in 97 countries. For more information, visit www.ifc.org.
About the Agency for International
Business and Cooperation (EVD)
EVD is part of the Dutch Ministry of Economic Affairs. Its mission
is to promote and encourage international business and international cooperation.
As a state agency and a partner to businesses and public-sector organizations,
it aims to help them achieve success in their international operations.
A growing network of organizations, government institutions, and companies
has come to rely on the EVD for information about foreign markets, governments,
and trade and industry. With its wide-ranging knowledge, the EVD is able
to develop products and services that meet the needs of its customers and
clients. It obtains its information from its network of Dutch and international
organizations, which include international financing organizations, the
European Commission, embassies, chambers of commerce, local business support
offices, trade representative associations, and trade and industry.