Business news from Ukraine

PRESIDENT OF UKRAINE VOLODYMYR ZELENSKY: OUR PRIORITIES ARE TERMINATION OF WAR AND DEFEATING CORRUPTION

President of Ukraine Volodymyr Zelensky has promised to justify the trust of Ukrainians in the Servant of the People party at the parliamentary elections and called the main priorities of his political force in the Verkhovna Rada of the new convocation. “Some 73% was better, but I am personally and each of us is grateful to the people of Ukraine for their support. We thank the people of Ukraine for the very great confidence in our Servant of the People party. I want to say that this is also a big responsibility for me personally and for our team. We will not let the Ukrainians down,” he said at the party headquarters on Sunday evening.
Zelensky stressed that the main priorities of his team are terminating the war, returning captured Ukrainians and defeating corruption that still exists in Ukraine.

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EBRD STRATEGY IN LINE WITH PRIORITIES OF UKRAINE CAN WORK MORE EFFICIENTLY – VOLODYMYR ZELENSKY

President of Ukraine Volodymyr Zelensky at a meeting with the delegation of the European Bank for Reconstruction and Development (EBRD), led by its president Suma Chakrabarti, has assured that bilateral cooperation will be intensified and will become more efficient. “We thank you for being here and thank you for being the largest investor in Ukraine. I want to assure that we will extend our cooperation,” Zelensky said at the meeting.
He stressed that the strategy of the EBRD is fully consistent with the priorities of Ukraine, and expressed conviction that Ukraine and the bank together can work more efficiently. Zelensky noted that the country appreciates cooperation with the international partners: the EBRD, the World Bank and the International Monetary Fund.
The president noted he had already met with the representatives of the IMF, at which Ukraine’s progress in fulfilling its obligations under the Stand-By Arrangement was noted. According to Zelensky, the parties discussed the issue of continuing cooperation.

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EBRD DEFINES STRATEGIC PRIORITIES IN UKRAINE FOR NEXT FIVE YEARS

The European Bank for Reconstruction and Development (EBRD) has defined operational and strategic priorities in Ukraine for the next five years: privatization and improved governance in the public sector, energy security and energy efficiency, as well as strengthening the banking sector and developing capital markets. “The EBRD will pay special attention to projects that will integrate investment and policy engagement in areas such as privatization, energy security and efficiency, the financial sector, trade and infrastructure,” the bank said in a statement in connection with the adoption of a new strategy for Ukraine.
“The EBRD will help stimulate private sector participation across sectors and further commercialization of public sector firms. The bank will continue to support the implementation of modern public sector procurement as well as the introduction of proper public governance,” a bank press release reads.
“The EBRD’s operational and strategic priorities in Ukraine will rest on the following five pillars: promoting privatization and commercialization in the public sector to increase competitiveness and good governance; promoting the rule of law, fair competition in the private sector and support of companies that use best practice; strengthening energy security through effective regulation, market liberalization, diversified and increased production and energy efficiency; enhancing the resilience of the financial system by strengthening Ukraine’s banking sector, and by developing capital markets and non-bank finance; and improving integration by facilitating trade and investment, expanding infrastructure links, and supporting convergence with EU standards,” the document states.
“The EBRD will foster competition and support anti-corruption efforts. Special attention will be paid to improved skills and to the employability of disadvantaged groups. The bank will pledge more resources to create a market structure for sustainable energy and improved energy connectivity. It will assist in the creation of increased resource efficiency and will help promote renewable energy,” it says.
“The EBRD will promote a stable and efficient banking sector, a greater variety of non-banking financial channels and the use thereof. The bank will invest in improvements to connectivity through better infrastructure. It will also help facilitate increased trade and investment flows,” the bank added.

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