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Ukraine expects significant capital inflow after the war, – Yuliia Svyrydenko at the Forum on Economic Resilience and Reconstruction

Після війни Україна очікує на значний приплив капіталу, - Юлія Свириденко на Форумі з економічної стійкості та відбудови

The Forum on Economic Resilience and Reconstruction of Ukraine was held in Paris, where one of the speakers was First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko.

The Forum was preceded by the Standing with the Ukrainian People Conference, which was opened by the President of the French Republic. Emmanuel Macron announced, inter alia, comprehensive support for Ukraine and additional assistance to our country due to the russian strikes on the energy infrastructure.

During an online address at the Conference, President of Ukraine Volodymyr Zelenskyy emphasized the specific assistance that Ukraine needs. In particular, as the head of state noted, the country needs equipment to restore the destroyed energy system, and electricity supplies by the European Union (Ukraine’s import needs are up to two gigawatts). Ukraine also needs about 2 billion cubic meters of natural gas.

The President of Ukraine also initiated the establishment of a mechanism for coordination of efforts and response to the challenges related to attacks of the aggressor state on the energy infrastructure.

During the speech at the opening of the Forum on Resilience and Reconstruction, the President of Ukraine noted the role of France in the recovery of our country (France assumed patronage over the reconstruction of Chernihiv Oblast). The head of state also urged to contribute to charitable assistance in the sphere of education, medicine, assistance to the elderly and IDPs, in particular under the projects presented in Paris by the Olena Zelenska Foundation.

The third important area determined by the President of Ukraine is involvement in economic development. According to Volodymyr Zelenskyy, investments are expected in the agrarian sector, energy, mechanical engineering, defence industry, transport, construction, IT and many other industries with significant growth potential.

“First Deputy Prime Minister Yuliia Svyrydenko and representative of the Office of the President Rostyslav Shurma will present specific areas of possible cooperation. The sooner and more effectively we combine the power of Ukraine and France, the more we will benefit from it, and the more reliable peace will be, which, I am sure, we will be able to return to our country and all of Europe,” Volodymyr Zelenskyy noted.

Speaking at the Forum, First Deputy Prime Minister Yuliia Svyrydenko stressed that supporting Ukraine today is an investment in the peaceful future of the entire European continent.

During the Forum the Minister of Economy took part in a panel with representatives of international financial institutions (IFIs), namely President of the EBRD Odile Renaud-Basso, Director General of the French Treasury Emmanuel Moulin and President of the European Investment Bank Werner Hoyer. This is very symbolic, as cooperation with IFIs can provide operational capital to the Ukrainian private sector, which is traditionally supported by the Ministry of Economy.

“Today we already know about the IFC’s intention to attract USD 2 billion for the private sector in Ukraine. And the EBRD is preparing a program for USD 3 billion. The European Investment Bank also declared its readiness to join the launch of loan programs for the private sector of Ukraine.
Therefore, it was extremely important to synchronize our positions and assure that the Ministry of Economy remains the single window of entry for these institutions and they will receive maximum support from us while investing in the reconstruction of Ukraine. We expect a significant inflow of capital into the economy after the war,”
Yuliia Svyrydenko said.

According to the her, the provision of military, financial and humanitarian assistance to Ukraine as well as the imposition of economic sanctions against the russian federation are extremely important for our country.

At the same time, cooperation in other areas is equally important, in particular in supporting our country on its path of European integration. In particular, as Yuliia Svyrydenko noted, preparations for the official commencement of negotiations on Ukraine’s full membership in the EU are underway.

“It is about consistent implementation of potential of the Association Agreement, industrial visa-free regime and customs visa-free regime. We are also conducting a thorough inspection and preparation for negotiations in certain sectors, such as: “Free movement of goods”, “Food security” and “Customs Union”.

“We believe that this approach will allow to maintain political momentum and strengthen practical integration of Ukraine into the EU internal market. We will be grateful to France for its support in launching the process of pre-accession negotiations as soon as possible,” said the First Deputy Prime Minister – Minister of Economy of Ukraine.


For reference

During the work of the Ukrainian delegation in Paris led by Prime Minister of Ukraine Denys Shmyhal, a number of meetings were held and important agreements were signed. In particular:

  • A guarantee agreement with the EBRD to attract a EUR 300 million loan for Ukrenergo for the emergency restoration of power transmission grids. The funds are also complemented by a grant of EUR 70 million from the Netherlands for the procurement of high-voltage equipment.
  • An agreement with the French government on the supply of rails for Ukrzaliznytsia produced by Saarstahl, France, worth up to EUR 37.6 million
  • Long-term Roadmap between the Government of Ukraine and the Government of France on the launch of a program to support Ukraine’s digital industry.
  • Memorandum on the supply of bridges for the needs of Ukravtodor worth about EUR 25 million.

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