London Stock Exchange and TheCityUK to help develop financial services in Ukraine

The Ministry of Economy has signed a memorandum of understanding to support the development of the Ukrainian financial and related professional services market with the London Stock Exchange and the British organisation TheCityUK.

Source: press service of the Ministry of Economy

Details: "In cooperation with the UK Government, TheCityUK and the London Stock Exchange plc, Ukraine seeks to create a favourable financial ecosystem for Ukrainian companies to access finance and attract productive investment in Ukraine. We express our gratitude to our partners for their efforts and for new opportunities for Ukraine," said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy.

The UK's financial sector is one of the most developed in the world, so Ukraine will adopt the best British experience for its recovery and development.

The cooperation will be aimed, in particular, at facilitating access to long-term financing for Ukrainian businesses and building the capacity of the private sector in Ukraine (implementation of corporate partnership programmes, including support programmes for small and medium-sized businesses).

It will also assist the government and other authorities in attracting foreign direct investment and promoting the growth of Ukrainian businesses. 

Bruce Carnegie-Brown, Leadership Council Chair of TheCityUK, said the memorandum underlines the commitment of the UK financial and related professional services industry to actively support Ukraine's economic recovery. 

"By sharing knowledge and expertise, and creating a financial market ecosystem, we can together help strengthen Ukraine's capital markets and develop its financial sector. We hope that our continued cooperation will help to attract both public and private capital to Ukraine," said Julia Hoggett, CEO of the London Stock Exchange.

Background:

• The UK will join the European Bank for Reconstruction and Development (EBRD) in developing and implementing a pilot war risk insurance project in Ukraine – the UK government and the EBRD signed a statement of intent on 31 October 2023.

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