Ukraine and France Explore SME Support Collaboration.

27 Oct, 2023

Ukraine and France Explore SME Support Collaboration.

Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, recently engaged in discussions with Gaël Veyssière, Ambassador Extraordinary and Plenipotentiary of France to Ukraine. Their talks encompassed a range of vital topics, including war risk insurance, the involvement of French businesses in Ukraine's reconstruction and recovery, cooperation with Ukrainian companies, and support for small and medium-sized businesses (SMEs).

Svyrydenko emphasized the importance of accelerating Ukraine's reconstruction and recovery by attracting private sector investments. To achieve this goal, there is a need to expand political and military risk insurance programs. She also expressed appreciation for France's introduction of a bilateral mechanism for insuring investments in Ukraine.

The discussions extended to Ukraine's requirement for macro-financial assistance, the potential participation of France in financing programs for supporting SMEs, and preparations for the launch of the EU's four-year Ukraine Facility program, set to provide up to EUR 50 billion in funding for the period 2024-2027.

Furthermore, both Ukraine and France will continue their collaboration in developing a strategy for utilizing frozen Russian assets to bolster the country's reconstruction efforts.

The French Ambassador raised the issue of liberalizing Ukraine's currency legislation, allowing investors to repatriate dividends abroad.

Humanitarian demining in Ukraine was another significant topic on the agenda, with France having already allocated a total of EUR 15 million for this purpose through various programs.

Svyrydenko expressed gratitude for the invaluable support from the French government, emphasizing France's role as a reliable partner and friend of Ukraine, particularly in the challenging times the country faces. She also highlighted France's patronage of her home region of Chernihiv and the prospects of even closer relations in the future.