Yulia Tymoshenko’s government improves investment climate

Thanks to the efforts of the Yulia Tymoshenko government, the U.S. Overseas Private Investment Corporation (OPIC) has restored its programs in Ukraine, which will help increase American investment in Ukraine.

"OPIC is pleased to once again make available its support for U.S. investment in Ukraine, a development which we anticipate will send a highly positive signal to prospective investors in the country," said OPIC Acting President Dr. Lawrence Spinelli.

OPIC provides financing and political risk insurance to American companies investing in Ukraine. The decision to reopen OPIC for Ukraine was approved on December 17, 2009.

According to Spinelli, "This historic occasion is indicative of Ukraine’s ongoing efforts to improve its investment climate, and we commend the Ukrainian government for its hard work in bringing about this result. We look forward to working with both U.S. and Ukrainian businesses to facilitate new levels of American investment in Ukraine."

The original dispute involved OPIC payment in 1999 of an insurance claim to the U.S. sponsor of a project in Ukraine and a prolonged inability to settle the dispute resulted in suspension of OPIC programs in the country. Previously, OPIC had provided more than $254 million in financing and insurance to 21 projects in Ukraine.