Partnership relations between Ukraine and the UK are getting stronger. The Ministry of Economy of Ukraine, the London Stock Exchange Group PLC and the British organization TheCityUK have signed a Memorandum of Understanding to support the development of the Ukrainian financial and related professional services market through 'The City-Ukraine Hub'.

As Yuliia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine, noted during the signing ceremony, the support of partners was crucial for Ukraine's economic stability during the war.

"In cooperation with the UK Government, TheCityUK and the London Stock Exchange PLC, Ukraine is committed to creating a favorable financial ecosystem for Ukrainian companies to access finance and raise efficient investment in Ukraine. We are grateful to our partners for their efforts and for new opportunities for Ukraine," said Yuliia Svyrydenko.

According to her, the UK financial sector is one of the most developed in the world. Therefore, Ukraine will adopt the best British experience for its recovery and development.

Under the signed memorandum, the cooperation will be aimed, in particular, at the following:

• facilitating access to long-term financing for Ukrainian businesses;
• building the capacity of the private sector in Ukraine. This will include the implementation of corporate partnership programs, including support programs for small and medium-sized businesses;
• assisting the Government and other authorities in attracting foreign direct investment and promoting the growth of Ukrainian business.

According to Bruce Carnegie-Brown, Chair of TheCityUK Leadership Council, the Memorandum emphasizes the commitment of the UK financial and related professional services industry to actively support Ukraine's economic recovery.

"Given the United Kingdom's status as one of the world's leading financial centers, we will bring our expertise in good governance and sound regulatory frameworks to support Ukraine's recovery," said Bruce Carnegie-Brown.

In her turn, Julia Hoggett, CEO of the London Stock Exchange PLC, emphasized the sustainable support for Ukraine's long-term economic transformation.

"By sharing knowledge and experience, and building a financial market ecosystem, we can work together to help strengthen Ukraine's capital markets and develop its financial sector. We hope that our continued cooperation will help attract both public and private capital to Ukraine," said Julia Hoggett.