Ukraine, France discuss support for SMEs

Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, and Gaël Veyssière, Ambassador Extraordinary and Plenipotentiary of France to Ukraine, have discussed war risk insurance, the involvement of French business in the reconstruction and recovery of Ukraine, cooperation with Ukrainian companies and support for small and medium-sized businesses (SMEs).

This is said in a statement published on the Government portal, Ukrinform reports.

 “The process of Ukraine’s reconstruction and recovery will accelerate as we attract private sector investment, and for this we need to expand our political and military risk insurance programmes. We appreciate France’s introduction of a bilateral mechanism for insuring investments in Ukraine,” said Svyrydenko.

The parties also discussed Ukraine’s need for macro-financial assistance, the possibility of France’s involvement in financing programmes to support small and medium-sized enterprises, and preparations for the launch of the EU’s four-year Ukraine Facility programme, which will provide up to EUR 50 billion in 2024-2027.

Ukraine and France will continue to work on developing a strategy for the use of frozen Russian assets to support the country’s reconstruction.

For his part, the French Ambassador raised the issue of liberalization of Ukraine’s currency legislation to allow investors to withdraw dividends abroad.

The parties also discussed the issue of accelerating humanitarian demining in Ukraine. France has already allocated a total of EUR 15 million for this purpose through various programmes.

 “We are grateful to the French government for its support in each of these important areas. France has been and remains a reliable partner and friend of Ukraine, and we can count on their help at this difficult time. It is particularly valuable for me that France has taken on the patronage of my home region of Chernihiv. I believe that our relations with France will only grow closer in the future,” Svyrydenko concluded.

As reported, the total volume of French military assistance to Ukraine has reached EUR 550 million and France is now among the top five donors of military assistance. French President Emmanuel Macron announced the creation of a EUR 100 million fund to arm Ukraine. The fund will allow Ukraine to buy the necessary equipment directly from manufacturers.

France is providing economic assistance to Ukraine in cooperation with its European partners. The state has mobilised a EUR 300 million package for Ukraine.

Since the beginning of the war, France has also provided EUR 100 million in humanitarian aid and 95 tonnes of seeds to meet the needs of small farms in Ukraine.