Ukraine, Nasdaq sign memorandum to strengthen economy, capital markets

The Ukrainian Economy Ministry and Nasdaq, a leading global technology company, have signed a Memorandum of Understanding to strengthen Ukraine’s economy and capital markets.

The relevant statement was made by the ministry’s press service, following a signing ceremony attended by Ambassador of Ukraine to the United States Oksana Markarova and U.S. Ambassador to Ukraine Bridget Brink, an Ukrinform correspondent reports.

As part of the memorandum, Nasdaq and the Ukrainian Economy Ministry will determine the areas of cooperation that may contribute to Ukraine’s economic recovery.

The document provides for technical assistance from Nasdaq to the Ukrainian government in relation to the future international finance center in Ukraine, capital markets development, access of Ukrainian companies to long-term financing in international markets.

“The expertise and technologies of Nasdaq are important tools for attracting long-term financing for Ukrainian companies and developing organized markets. We are sincerely grateful to our U.S. partners for their systematic efforts to strengthen Ukraine’s economic capacity,” Ukrainian First Deputy Prime Minister, Economy Minister Yuliia Svyrydenko noted.

Nasdaq is also considering potential opportunities to waive listing fees for Ukrainian companies on Nasdaq’s markets in the United Stated and the EU. The fee waiver is subject to regulatory approvals.

“It will take a concerted global effort from both the public and private sectors to support the rebuilding of Ukraine’s economy, and this agreement is a first step to a deeper partnership between Nasdaq and Ukraine,” Nasdaq Executive Vice Chairman Ed Knight said.

Partnership between Nasdaq and the Government of Ukraine was facilitated by the United States Agency for International Development (USAID).

“Investors are already demonstrating their confidence in Ukraine’s future – which attracted more than $4 billion in foreign direct investment in the first three quarters of last year – and this partnership further underscores the attractive investment opportunities Ukraine offers,” USAID Administrator Samantha Power added.

A reminder that Nasdaq is a leading global technology company providing services to corporate customers, investment managers, banks, brokers and exchange operators in their interaction with global financial markets and the financial system in general. Nasdaq is known around the world for creating innovative indexes and providing advanced technologies.

Photo: Yaroslav Dovhopol