USAID Administrator Samantha Power Unveils Major Partnerships to Boost Ukrainian Economy
USAID Administrator Samantha Power's visit to the Ukraine House was marked by significant announcements, which were delivered alongside Ambassador of Ukraine to the USA, Oksana Markarova, and Ukrainian Prime Minister Denys Shmyhal.
One of the key announcements pertained to a notable collaboration with Nasdaq. This partnership, as elucidated by Vice Chairman Edward Knight, aims to facilitate Ukrainian businesses in accessing necessary capital. Presently, Ukrainian stock exchanges lack sufficient development to provide liquidity for local companies amidst ongoing conflict. Consequently, listing on international markets becomes a viable option. However, the associated costs, such as initial listing fees and annual fees, can pose challenges, particularly for companies already contending with wartime disruptions. Hence, Nasdaq has committed to waiving these fees for Ukrainian companies seeking to list on its global stock exchanges. Additionally, Nasdaq will provide technical assistance to navigate listing requirements and offer workshops and training on regulatory and governance practices, marking a significant initiative.
Furthermore, Bernie Mensah from Bank of America announced an exciting partnership with the Government of Ukraine. This collaboration involves providing senior investment bankers' expertise to the Ukrainian Ministry of the Economy through secondments. These bankers, known as secondees, will work closely with Ukrainian counterparts to identify and develop bankable projects in Ukraine. Subsequently, they will assist in pitching these projects to potential investors, signaling Bank of America's recognition of investment opportunities in Ukraine and its commitment to facilitating financial institutions' engagement.
The event underscored the importance of creative thinking among companies in supporting Ukraine's economy. Each entity is encouraged to leverage its comparative advantages to contribute effectively. Moreover, it highlighted the role of the private sector in bolstering democracy and stability, with investment in Ukraine serving as a meaningful contribution.
Special gratitude was extended to Nasdaq and Bank of America for their pivotal efforts, emphasizing solidarity with Ukraine in its time of need.
Source: USAID
