Ukraine and France have signed an agreement on the establishment and operation of the French Development Agency, thePromotion and Participation Company for Economic Cooperation Society (PROPARCO) and Expertise France in Ukraine, which are part of the AFD Group. The signing took place during the visit of the Ukrainian delegation headed by President of Ukraine Volodymyr Zelenskyy to Paris. The agreement was signed by the First Deputy Prime Minister of Ukraine and Minister of Economy Yuliia Svyrydenko and the Minister of Europe and Foreign Affairs of France Stéphane Séjourné in the presence of President of Ukraine Volodymyr Zelenskyy and President of France Emmanuel Macron.

In essence, the Agreement expands the mandate of the AFD to work in Ukraine. According to French President Emmanuel Macron, it is of particular importance for the agency to support projects at the local level.

"The signing of the Agreement creates the basis for the functioning of the French representative office of the AFD Group in Ukraine, which can provide financial and technical support to Ukrainian enterprises. Traditionally, the Group implements projects in areas that promote stability and development, fight against poverty and equality. I strongly believe that the presence of AFD in Ukraine will help to implement recovery projects more effectively now, without waiting for the war to end," said Yuliia Svyrydenko.

The agreement stipulates that the AFD Group, among other things, may provide financial support in the form of loans, grants or guarantees, as well as any form of financial or technical assistance in Ukraine to public or private enterprises, banking institutions, associations or organisations, or any legal entity located in Ukraine.

"I believe that the opening of the AFD Group's representative office in Ukraine will further strengthen cooperation between Ukraine and the French Republic," summed up Yuliia Svyrydenko.

In addition to expanding the AFD's mandate, during the signing of the Agreement, President Emmanuel Macron said that France would send 20 technical experts to Ukraine to work in key ministries to speed up work on standardisation.

The French leader noted that supporting the private sector in Ukraine remained a constant priority. French companies are major employers and taxpayers in Ukraine. Emmanuel Macron announced new projects in the private sector, particularly in digital technologies.

As a reminder, the French Development Agency is the main institution of the AFD Group, which provides financial and technical assistance to developing countries for their sustainable development and poverty alleviation. The Agency implements projects in various sectors, including health, education, infrastructure, agriculture, water, energy and the environment.

The Promotion and Participation Company for Economic Cooperation Society (PROPARCO) is part of the AFD Group and specialises in supporting the private sector. PROPARCO provides funding for projects that promote economic development and job creation. It often invests in projects that have a positive social and environmental impact, providing loans to private companies, equity investments and other forms of financing.

Expertise France is part of the AFD Group and is an international technical cooperation agency. It provides expertise and technical assistance in various fields such as governance, security, health, education, and others. They implement projects aimed at increasing institutional capacity and promoting reforms in partner countries.

In Ukraine, these institutions will work together to provide comprehensive support: financial and technical support, financing to private enterprises to promote economic development, engaging experts and providing technical assistance for the implementation of projects and reforms.