THE BUSINESS OF INTERNATIONAL TRADE
THE BUSINESS OF INTERNATIONAL TRADE
The European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) are supporting the Ministry of Infrastructure of Ukraine and the Ukrainian Sea Ports Authority in structuring and tendering a public-private partnership (PPP) to modernise the country’s Chornomorsk Port on the north-western shore of the Black Sea.
Private sector-led investment and modernisation of the port, one of the largest in the Black Sea region, could increase Ukraine’s import and export capacity, boosting its trade competitiveness and economic growth.
The EBRD and IFC will help the Ukrainian government to prepare a comprehensive contractual framework, set bidding criteria and tender rules, and liaise with potential investors, paving the way for a successful tender. Ukrainian Minister of Infrastructure Oleksandr Kubrakov and Mark Magaletsky, EBRD Deputy Head of Ukraine, Sustainable Infrastructure, formalised an agreement to this end.
The Chornomorsk container terminal and railway-ferry complex concession will help to modernise the terminal’s existing assets, improve and optimise its operations and develop additional services for carriers and cargo owners. Improving the port by optimising cargo logistics and providing higher-quality services is expected to boost the attraction of Ukraine to leading international shipping operators.
The EBRD’s engagement in Chornomorsk follows two recent successful tenders in the country’s maritime infrastructure sector. In 2020, the Bank – in partnership with IFC and the Global Infrastructure Facility – supported Ukraine’s Ministry of Infrastructure in structuring concessions for the ports of Kherson and Olvia, two mid-sized Black Sea ports.
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