JP Morgan to help Ukraine attract investment for reconstruction - economy ministry

This is reported by Ukrinform with reference to the Economy Ministry’s press service.

The Ukrainian side and JP Morgan are reported to have signed a memorandum of understanding.

"JP Morgan has years of experience in managing assets and interacting with the public sector. Its experts are aware of the nuances of combining state and private capital in order to obtain additional leverage – credit financing," says the Ministry of Economy.

According to the memo, JP Morgan will consult Ukraine regarding

financial stabilization – development and coordination of debt refinancing and restructuring strategies;

obtaining sovereign credit ratings;

management of state liquidity assets;

digitalization of the economy;

exploring opportunities for establishing close economic ties with Europe; and

creating an institution to guide and protect public and private sector investment and/or facilitate trade flows.

In addition to signing the memorandum, the parties agreed to include JP Morgan representatives in the group of advisers and representatives of the capital market’s financial investment sector together with BlackRock.

"Also, agreements were reached on the use of a number of financial mechanisms that will allow Ukraine in the near future to attract spot financing, in particular, from the U.S. Treasury," the report says.

As Ukrinform reported earlier, Prime Minister Denys Shmyhal, during a meeting with representatives of the largest U.S. banking holding JP Morgan, spoke about the most promising areas of investment in Ukraine.