September 24, 2024, Kyiv – As part of the Access2Finance conference, after the panel discussion “Sources of Financing for Small and Medium-Sized Businesses (SMEs)”, an important event took place – the signing of a memorandum of cooperation between the Ukrainian Association of Fintech and Innovation Companies (UAFIC) and the Entrepreneurship Development Fund.
The memorandum was signed by Rostyslav Dyuk, Chairman of the Board of UAFIC, and Viktor Katrenych, Deputy Chairman of the Board of the Entrepreneurship Development Fund. The purpose of the agreement is to strengthen cooperation between the organizations to support regional economic development and strengthen the position of small and medium-sized enterprises (SMEs) in Ukraine.
The memorandum pays special attention to supporting veteran and women-owned businesses, which is one of the key aspects of social responsibility. The parties also intend to promote the implementation of the principles of sustainable development and ESG (environmental, social and governance criteria), which are important for ensuring sustainable economic growth and increasing the competitiveness of Ukrainian entrepreneurs.
The parties agreed on joint initiatives aimed at increasing SMEs’ access to finance, promoting regional economic activity, and introducing the latest technological solutions for business development.
“The signing of this memorandum is an important step for UAFIC towards expanding opportunities for small and medium-sized enterprises in Ukraine. It is important that as part of our cooperation we will focus on supporting veteran and women-owned businesses, which are the basis for creating a more inclusive and sustainable economy. In addition, the implementation of ESG principles will be a key aspect for increasing the competitiveness of Ukrainian enterprises,” said Rostyslav Dyuk, Chairman of the UAFIC Board.
“For the Fund, the top priority is to support Ukrainian business, especially in such difficult times. In addition, this is exactly the period when it is necessary to involve businesses in the implementation of ESG standards and further develop in this direction for the successful implementation of economic activities. That is why we are pleased to sign a memorandum with UAFIC to jointly support entrepreneurs in our country,” said Viktor Katrenych, Deputy Chairman of the Board of Ford Entrepreneurship Development.
The signing of this memorandum is an important step in strengthening Ukraine’s economy, improving the business climate and supporting entrepreneurship that meets the principles of sustainable development.
The memorandum was signed at the Access2Finance conference, which was supported by the USAID Project Investing for Business Sustainability.
COOPERATION, Entrepreneurship Development Fund, FINTECH, MEMORANDUM
During his working visit to New York, Ukrainian President Volodymyr Zelenskyy met with Finnish President Alexander Stubb to discuss the situation on the battlefield, Ukraine’s defense needs, and international cooperation.
According to the press service of the Ukrainian president, “the meeting discussed Ukrainian-Finnish defense cooperation, specifically the joint production of drones and the exchange of experience in this area.”
Zelenskyy noted that Ukraine needs air defense systems, including man-portable air defense systems. He also briefed his interlocutor on the current stage of implementation of the agreements reached during the NATO summit in Washington.
“Volodymyr Zelenskyy emphasized that it is important for Ukraine to obtain permission from its partners and the means to strike deep into Russian territory,” the press service reports.
The parties also discussed what international efforts are needed to achieve a lasting and just peace for Ukraine, as well as the role of the Global South in this process.
Japan International Cooperation Agency JICA and the Ministry of Culture and Information Policy of Ukraine intend to cooperate in the restoration of cultural infrastructure.
“We are working on bringing the storage facilities for cultural property in museums in line with technical requirements. We also need the creation of a specialized depository, in particular, the development of project documentation and financial support for technical re-equipment. In addition, another global project is the renovation of the National Restoration Center. This institute is working at the maximum of its capabilities, but in rented unsuitable premises. We have already found premises for re-location. Now it will be necessary to re-equip and improve the qualifications of employees”, – Acting Minister Rostislav Karandeev is quoted by the press service of the Ministry after a meeting with the team of the Japanese Agency for International Cooperation JICA.
Ot also noted the information challenges, said that Ukraine is actively strengthening work with the frontline territories, the most exposed to the influence of enemy propaganda, and emphasized the interest in cooperation in information support of these regions.
“Our team is engaged in the reconstruction of Ukraine. We are providing assistance that aims to provide emergency needs, but we are also interested in cooperation on cultural issues because we understand its potential,” Naomichi Murooka, deputy director general of the Local and Regional Development Group of the Infrastructure Management Department of JICA’s head office, said at the meeting.
Mayor of Hamburg (Germany) Peter Tschentscher (Peter Tschentscher) has arrived on a visit to Kiev and intends to discuss with the mayor of the Ukrainian capital Vitaliy Klitschko the issues of cooperation between the cities.
“Today I am communicating with Vitaliy in the Ukrainian capital about support within the framework of our “Pact for Solidarity and Future”. I would like to meet Kiev, express our solidarity and discuss cooperation between our cities,” Cencher wrote on social media X on Monday.
“The people of Ukraine are resisting Russian aggression with courage, perseverance and great strength. Our support must continue until the war is over and reconstruction begins,” the Hamburg mayor added.
Maritime insurance experts are calling for closer cooperation with shipowners to develop decarbonization strategies, Reinsurance News reports.
The white paper, co-authored by underwriting firm Atrium and Bayes Business School (formerly Cass), City, University of London, emphasizes the crucial role insurers can play in facilitating the transition to greener practices in the shipping industry, the report says.
Noting the urgency of this issue, the document emphasizes that although the shipping sector currently accounts for about 3% of global greenhouse gas (GHG) emissions, this figure could soar to 13% in the near future.
This forecast is explained by the relatively slow progress in reducing emissions in the maritime industry compared to other sectors.
The International Maritime Organization (IMO) has implemented two key initiatives: The Existing Ships Energy Efficiency Index (EEXI) and the Carbon Intensity Index (CII), aimed at monitoring and assessing the environmental impact of maritime operations.
The paper outlines several strategies for insurers to promote decarbonization, including incorporating compliance requirements into insurance policies, adjusting premium rates based on compliance data, and working closely with clients to explore innovative solutions.
However, the authors warn that insurers must strike a delicate balance between encouraging decarbonization and remaining competitive in the market.
With global marine insurance premiums expected to reach S35.8 billion in 2022, the document emphasizes the importance of collective action by stakeholders to achieve sustainable development goals while maintaining market competitiveness.
The study emphasizes the need for concerted efforts by all stakeholders involved in the maritime industry to successfully overcome the challenges of decarbonization.
Prime Minister of Ukraine Denys Shmyhal says that Ukraine and Japan have signed 56 intergovernmental agreements, memorandums, and arrangements between businesses and local authorities at the Economic Development and Recovery Conference.
“56 documents were signed by representatives of Ukraine and Japan at the Economic Development and Recovery Conference in Tokyo! Among them are intergovernmental agreements, memoranda, and agreements between businesses and local authorities,” Shmyhal wrote on his Telegram channel.
In particular, an intergovernmental convention on the avoidance of double taxation was signed; more than a dozen agreements to support Ukraine’s recovery with powerful Japanese organizations (JICA, JETRO, the NEXI Export Credit Agency and the Japan Bank for International Cooperation); grant agreements for the implementation of recovery programs, as well as a number of documents between the Ministry of Agrarian Policy of Ukraine and Japanese companies providing Ukraine with various agricultural machinery and equipment; an intergovernmental memorandum on supporting Ukraine’s recovery with the
“Naftogaz agreed on a wind energy project; the Ukrainian gas transportation system operator signed a memorandum on preparations for the modernization of gas compressor stations. According to the Prime Minister, documents were also signed in the fields of energy, telecommunications, infrastructure construction, and ecology.
“Japan has already shown leadership in financial support for Ukraine. Now Japan should become one of the leaders of Ukraine’s recovery and investment in our economy,” Shmyhal summarized.
