Ukraine, France work to deepen cooperation between companies, risk insurance

Ukraine and France continue to engage in a productive dialogue on Ukraine's recovery without waiting for the end of Russia's war, including deepening cooperation between companies, risk insurance, assistance in humanitarian demining, and export support.

First Deputy Prime Minister - Minister of Economy of Ukraine Yulia Svyrydenko stated this during a meeting with the Minister of Economy, Finance, Industrial and Digital Sovereignty of France Bruno Le Maire on November 9 in Paris, Ukrinform reports citing Ukraine's Economy Ministry.

"We are discussing potential tools for the restoration of Ukraine, including war risk insurance, to enable French investors to enter Ukraine and join reconstruction projects," Svyrydenko emphasized.

For example, the French state-owned insurance company Bpifrance Assurance Export has already announced that it will insure French companies that are ready to invest in Ukraine without waiting for the war to end. There are already first French companies that are ready to receive these guarantees to expand their businesses in Ukraine. The parties also discussed the possibility of insuring Ukrainian investors who will create joint ventures with French businesses.

"French companies are ready to localize their facilities in Ukraine and manufacture their equipment at our plants. I am convinced that this interest will only grow as we work together," the First Deputy Prime Minister said.

French businesses are interested in investing in Ukraine's strategically important sectors, including defense, agricultural production and processing, renewable energy, gas production and storage, green metallurgy, environmentally friendly transportation, healthcare, and pharmaceuticals.

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

France provides economic support to Ukraine in cooperation with its European partners. The country has mobilized a package of EUR 300 million for Ukraine.

Since the beginning of the war, France has provided EUR 100 million in humanitarian aid and 95 tonnes of seeds for the needs of small farmers in Ukraine.