Minister of Economy, Environment and Agriculture Oleksii Sobolev held a bilateral meeting with Pierre Heilbronn, Special Envoy of the President of the French Republic for Ukraine’s Relief and Reconstruction. The parties discussed institutional changes in the Ukrainian Government and the further deepening of Ukrainian-French economic partnership.
Key topics included the establishment of a new Ukraine Recovery Support Fund and the preparation of a new intergovernmental agreement between Ukraine and France, planned for signing until the end of 2025.
“France is a significant and consistent partner for Ukraine. Today, our economic relations within the framework of the new Ministry will only grow stronger. We are already working on a new Recovery Support Fund, which envisages mixed financing for projects. This new format will involve attracting private capital, enabling the expansion of investment opportunities and boosting funding for reconstruction initiatives. We are sincerely grateful to France for this support,” emphasised Oleksii Sobolev.
The parties also discussed the preparation of a new intergovernmental agreement covering several strategic sectors, focusing on industrial cooperation between French and Ukrainian companies in line with European Union requirements and standards. They also explored the possibility of creating additional tools to attract investment into key economic sectors.
Particular attention was given to cooperation with the French company Alstom under an agreement to supply 55 locomotives worth EUR 490 million, funded by the World Bank and the EBRD. Additionally, the prospect of further financing of EUR 300 million through a preferential loan from the French Government for an additional 30 locomotives was discussed. The signing of this agreement is expected in August during an economic summit attended by the presidents of Ukraine and France.
Regarding agricultural cooperation, the parties discussed:
– Issues related to the import of Ukrainian agricultural products, with a shift in focus towards developing the processing industry;
– An initiative to establish grain hubs in the Middle East, particularly in Egypt, for the safe storage and distribution of Ukrainian grain. This will enhance regional food security and help Ukraine mitigate risks associated with domestic storage.
The parties also confirmed that a meeting of the Ukrainian-French Economic Commission will take place in Kyiv in November and agreed to appoint its chair. They further committed to designating a coordinator to liaise with the French Embassy and to form a consortium for a private investment fund. (Government portal)