President of Ukraine Volodymyr Zelenskyy met with senior members of the largest investment bank in the world, JP Morgan, and took part via video link in one of the largest annual investment summits organized by JP Morgan, attended by 200 largest corporations, investors, and financial companies.
JP Morgan bankers spent most of last week meeting with Volodymyr Zelensky and his senior staff where they discussed the creation of a fund seeded with $20 billion to $30 billion in private capital.
The parties discussed the creation of a platform for attracting private capital to rebuild Ukraine and promising directions of large investment projects in Ukraine, in particular in the sectors of green energy, IT, and agricultural technologies.
Zelenskyy said that Ukrainians strongly believe in freedom and democracy, and are fighting for it, for the sake of themselves and future generations.
The President also attaches utmost importance to the fact that the world continues to believe in Ukraine, and our country is very open.
"I understand very well that doing business and investing cannot be beneficial to only one party. We want you to invest in Ukraine and earn money," he said.
In addition, Zelenskyy drew attention to the fact that the current war has shown certain weak points both in Ukraine and in other states. In particular, in connection with the Russian attacks on the Ukrainian energy industry, Ukraine understands that diversification of the electricity supply and the renewable energy development is required. And during the war, Ukraine began the de-centralization of the energy sector and invites foreign investors to cooperate.
The Head of State named the further development of the IT sector, playing a vital role even during the war, another top priority. He also said Ukraine is making and can make an even more important contribution to cyber security in the world, and food security.
"We are proud of our long-standing support of Ukraine and committed to doing our part to lift up the country and its people. The full resources of JPMorgan Chase are available to Ukraine as it charts its post-conflict path to growth," Jamie Dimon, Chairman & CEO of JPMorgan Chase, said in turn.
During todays meeting, the President and representatives of JP Morgan discussed how such powerful financial structures can help Ukraine today, as well as steps aimed at long-term growth post-conflict.
The importance of the memorandum of understanding signed on February 9 between the Ministry of Economy of Ukraine and JP Morgan regarding advising the Government of Ukraine on financial stabilization, sovereign credit ratings, management of government liquidity, economic digitization, and identification of opportunities for establishing close economic ties with Europe was noted.
Ukraine needs investment for reconstruction and post-war growth, and the government does everything possible to create a favorable investment environment.
“The Cabinet of Ministers of Ukraine has a special office “UkraineInvest,” which is currently supporting eight major projects for USD 1.35 billion,” the Prime Minister emphasized.
The Prime Minister drew the attention of representatives of the largest U.S. banking holding company to the following areas: the agricultural sector, digital technologies, energy, natural resources, and of course, infrastructure reconstruction.
It was also agreed to include representatives of JP Morgan in the group of advisors and representatives of the financial investment sector of the capital market together with BlackRock.
The meeting was also attended by: Global Head of Alternatives, Asset Management at J.P. Morgan Anton Pil, Head of Debt Capital Markets in Central and Eastern Europe, the Middle East and Africa Stefan Weiler, Global Head of Lending & Deposits, CEO of JPM Wealth Workplace Vince La Padula.
