The Verkhovna Rada of Ukraine has ratified an agreement with France to establish a representative office of the French Development Agency (AFD) Group in Ukraine. The decision was supported by 286 People's Deputies through the adoption of bill No. 0286, as reported by Yaroslav Zheleznyak, a member of the "Holos" (Voice) parliamentary faction, on his Telegram channel.
Details of the Agreement
Financial Support: The AFD Group will provide financial assistance in the form of loans, grants, or guarantees. This includes any form of financial or technical aid to public or private enterprises, banking institutions, associations, or organizations within Ukraine.
Components of AFD Group:
- French Development Agency (AFD): The main agency providing financial and technical assistance to developing countries.
- PROPARCO: Specializes in supporting the private sector.
- Expertise France: Offers expertise and technical assistance across various fields.
Background
Signing of the Agreement: The agreement between the governments of Ukraine and France was signed in June 2023 during President Volodymyr Zelensky's visit to France.
Objective: The establishment of the AFD office aims to bolster economic development in Ukraine by facilitating access to financial resources and technical expertise, thereby supporting business growth and infrastructure projects.
Implications for Ukraine
Economic Development: The presence of the AFD Group in Ukraine is expected to enhance financial support for Ukrainian businesses, contributing to economic growth and stability.
International Cooperation: This move signifies strengthened bilateral relations between Ukraine and France, highlighting France's commitment to supporting Ukraine's development initiatives.
Official Statements
Yaroslav Zheleznyak noted the importance of the agreement in his announcement:
"The ratification of this agreement is a significant step toward enhancing Ukraine's economic collaboration with France, providing new opportunities for Ukrainian businesses to access financial and technical support."
About AFD Group
The French Development Agency (AFD) is a public financial institution that implements France's policy in the areas of development and international solidarity. Through its various entities—AFD, PROPARCO, and Expertise France—the group supports projects that improve living conditions, boost economic growth, and protect the planet.
