2023-02-11T19:48:00+02:00 Politics 2024-05-15T05:12:38+03:00

Ukrainian news

Zelenskyy Discusses Involvement Of Private Capital In Reconstruction Of Ukraine With Top Managers Of JP Morgan

Zelenskyy Discusses Involvement Of Private Capital In Reconstruction Of Ukraine With Top Managers Of JP Morgan

President Volodymyr Zelenskyy met with the top management team of the world's largest investment bank JP Morgan and took part via video link in one of the largest annual investment summits organized by JP Morgan, which was attended by 200 largest corporations, investors and financial companies.

This was reported by the press service of the Office of the President, Ukrainian News Agency reports.

"The parties discussed the creation of a platform for attracting private capital to the reconstruction of Ukraine and promising directions for the implementation of large investment projects in our country. In particular, it was about the sectors of green energy, IT and agro-technologies," the message reads.

Zelenskyy noted the importance of the world continuing to believe in Ukraine, and emphasized that Ukraine is extremely open.

"I perfectly understand that doing business and investing cannot be beneficial to only one party. We want you to invest in Ukraine and make money," he said.

The head of state noted that the current war has demonstrated certain weak points both in Ukraine and in other states.

In particular, in connection with the Russian attacks on the Ukrainian energy industry, the state understands that the diversification of electricity supply and the development of renewable energy are needed, and already during the war, Ukraine began the decentralization of the energy industry and invites foreign investors to cooperate.

The President called the further development of the IT sector, which plays an extremely important role during the war, another important priority.

He focused on the fact that Ukraine can make an even more significant contribution to the world's cyber and food security.

In turn, Chairman of the Board and Chief Executive Officer of JPMorgan Chase, James Dimon, said that the bank is committed to contributing "to the uplift of the country and its people."

"All the resources of JPMorgan Chase are available to Ukraine as it paves its post-conflict path to growth," he added.

During the meeting, Zelenskyy and representatives of JP Morgan discussed steps aimed at the long-term growth of Ukraine after the war.

The importance of the memorandum of understanding signed on February 9 between the Ministry of Economy of Ukraine and JP Morgan regarding the provision of advice to the Ukrainian government regarding financial stabilization, obtaining sovereign credit ratings, management of state liquidity assets, digitalization of the economy, and identification of opportunities for establishing close economic ties with Europe was noted.

It was also agreed to involve JP Morgan employees in the group of advisers and representatives of the financial and investment sector of the capital market together with the BlackRock company.

As Ukrainian News Agency earlier reported, the European Bank for Reconstruction and Development (EBRD) intends to invest about EUR 1.7 billion in projects in Ukraine in 2023.