The Ukraine government has signed a deal with US financial services company JP Morgan Chase for advice on the economy and future rebuilding efforts, CNBC reported.
Ukraine’s Ministry of Economy signed a memorandum of understanding (MoU) with a group of executives from the New York-based bank on Thursday aimed at rebuilding and developing the country, according to a statement by President Volodymyr Zelenskyy, the 13 February report said.
As part of the agreement, JP Morgan Chase would use its debt capital markets operations, payments, and commercial banking and infrastructure investing expertise to help the country stabilise its economy and credit rating, manage its funds and increase digital adoption, a source with knowledge of the agreement was quoted as saying.
An important part of the agreement would involve advising the country on ways to raise private investment to help it rebuild and invest for future growth in areas such as renewable energy, agriculture and technology, CNBC wrote.
“The full resources of JPMorgan Chase are available to Ukraine as it charts its post-conflict path to growth,” the company’s CEO Jamie Dimon was quoted as saying in a statement.
The bank led a US$20bn debt restructuring for the country last year and had committed millions of dollars in support for its refugees, the report said.
