Statement by Oleg Mistuque, General Director of the “Kyiv Investment Agency”

Many people, during the wave of enthusiasm in the summer of 2014, decided to devote themselves to reforms and occupied key posts in the state and municipal sectors. They had a serious task ahead – setting a new format for the country’s organization on the principles of honesty and transparency. After devoting more than a year of their lives to set the pace for reforms, most of them returned to the private sector.

For the almost four years I have dedicated myself to serving the municipality. Approaches have been changed regarding working with private investors and international financial organizations both for the country and the city. With the efforts of the government and the KMDA team, the financial position of the city was straightened: the debt was restructured and processes were activated to attract long-term low-cost financing to infrastructure projects that are so necessary for the city.

The city opened up to the international financial community, the practice of publishing annual reports was introduced, the city’s strategy was updated, diagnostics were carried out for more than 25 projects with appropriate recommendations to the city to improve its activities in many sectors, for which I would like to express special gratitude to the governments of Western Europe and The United States, the EBRD, and the World Bank.

Simultaneously, regarding the long and not-always-easy process of transforming the functioning of the municipality, I want to thank the team of the Kiev Investment Agency for the practical application of the principles of transparency, honesty and openness for investors, which were declared by me as the general director, in the form of 26 transactions with a budget of more than 2 billion UAH in which investors decided to become partners with the “renovated” municipality. I would also like to thank all those who supported the anticorruption that we brought in, working for the benefit of the people of Kiev and the development of the city, helping it to regain its position in the world.

Last but not least, the reason for much of this success was the launch of a new investment process that we developed together with Transparency International, Renaissance Foundation, Deloitte and Ward Howell in accordance with the world’s best practices in the field of public-private partnerships, which ensured the independent and unbiased functionality of the “internal investment bank” of the municipality, regardless of the political winds.

Gratitude is also due to the consolidated efforts on the part of KMDA, the government, and international financial organizations that have been partners in the preparation of major transport and infrastructure projects.

Concerning the management of these outcomes and the elaboration of the above achievements, the institutional capacity and experience of the young team of the Kiev Investment Agency has grown substantially. This team came with me in 2014 without the slightest previous experience in the public sector. I am confident that the successful example of the work of KIA will continue to be a guide for talented and fearless young people.

Many things require attention on the private sector side, especially in the area of attracting new investments, and strategic partnerships with global business and the financial community.

Goodbye, and make Ukraine Great! 🙂