Paris, France - In a landmark move to bolster economic cooperation, a new representative office of the French Development Agency (AFD) group will soon open in Ukraine. This comes as part of a broader agreement between the two nations, signed during the visit of Ukrainian President Volodymyr Zelenskyy to Paris.
The agreement, which marks a significant expansion of AFD’s mandate in Ukraine, was signed by Ukraine's First Deputy Prime Minister and Minister of Economy, Yulia Svyridenko, and France's Minister of Europe and Foreign Affairs, Stéphane Sejourne. The signing ceremony was attended by Presidents Zelenskyy and Emmanuel Macron, underscoring the high-level commitment to this partnership.
French President Macron highlighted the importance of supporting local projects through AFD, which traditionally focuses on stability, development, poverty reduction, and equality. "Supporting projects at the local level is especially important for the agency," Macron stated, emphasizing the strategic value of the initiative.
Yulia Svyridenko expressed confidence that the presence of AFD in Ukraine would significantly enhance the implementation of reconstruction projects. "The signing of the Agreement creates grounds for the functioning of the French representative office of the AFD Group in Ukraine, which will be able to provide financial and technical support to Ukrainian enterprises," she said. "I am convinced that the arrival of the AFD in Ukraine will help implement reconstruction projects more effectively now, without waiting for the end of the war."
Under the agreement, AFD Group will offer various forms of financial and technical assistance to Ukrainian public and private enterprises. This includes loans, grants, guarantees, and other types of support aimed at fostering economic development and stability. The initiative is expected to be a significant boon for sectors such as health, education, infrastructure, agriculture, water supply, energy, and the environment.
In addition to financial support, France will send 20 technical experts to Ukraine to collaborate with key ministries and expedite standardization efforts. This move reflects France's ongoing commitment to supporting Ukraine’s private sector, which Macron described as a top priority. The French President also announced upcoming projects in the digital technology sector, further strengthening the economic bond between the two nations.
The AFD Group, through its branches PROPARCO and Expertise France, will play a crucial role in this collaborative effort. PROPARCO focuses on financing private sector projects that spur economic development and job creation, often with a positive social and environmental impact. Expertise France provides technical assistance in governance, security, health, education, and more, aiming to enhance institutional capacity and promote reforms.
This comprehensive support package aims to provide a robust framework for Ukraine's sustainable development and recovery, contributing to the nation's resilience and long-term prosperity.
With this agreement, Ukraine and France are poised to deepen their economic ties and work together towards a future of mutual growth and stability.
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