Nasdaq and the Ministry of Economy of Ukraine today announced the signing of a Memorandum of Understanding (MoU) to support Ukraine’s efforts to strengthen its economy and capital markets.
As a part of the agreement, Nasdaq and the Ministry of Economy of Ukraine will identify areas of collaboration that can advance the restoration and recovery of Ukraine’s economy throughout the country’s reconstruction process. This will include identifying ways in which both parties can provide technical assistance for the forthcoming international finance center in Ukraine, promote entrepreneurism among Ukrainian citizens, and facilitate capital formation for Ukrainian companies.
Nasdaq also intends to waive listing fees for Ukrainian companies listing on Nasdaq’s U.S. and European markets. The fee waiver is subject to regulatory approvals.
“It will take a concerted global effort from both the public and private sectors to support the rebuilding of Ukraine’s economy, and this agreement is a first step to a deeper partnership between Nasdaq and Ukraine,” said Ed Knight, Executive Vice Chairman, Nasdaq. “Nasdaq has a long history of working closely with finance centers across the global economy to enable capital formation, spur innovation, and unlock economic progress. We look forward to continued discussions with the Government of Ukraine as we identify solutions that accelerate economic opportunities for Ukrainian citizens and businesses.”
“The expertise and technologies of Nasdaq are important tools for attracting long-term financing for Ukrainian companies and developing organized markets. We are sincerely grateful to our U.S. partners for their systematic efforts to strengthen Ukraine's economic capacity. Our goal this year is to become more economically self-reliant, and cooperation with Nasdaq is an opportunity to make our economy more resilient, create more equal opportunities, and realize our economic potential to the fullest," said Yulia Svyrydenko, First Deputy Prime Minister and Minister of the Economy of Ukraine.
The United States Agency for International Development (USAID) facilitated the partnership by helping match Ukraine’s need for technical assistance and capital formation with Nasdaq’s unique capability and expertise to provide this support to Ukraine.
"This new partnership between Nasdaq and the Government of Ukraine demonstrates that Ukraine is open for business, even as they continue to fight for their freedom. Investors are already demonstrating their confidence in Ukraine’s future – which attracted more than $4 billion in foreign direct investment in the first three quarters of last year – and this partnership further underscores the attractive investment opportunities Ukraine offers. We welcome Nasdaq’s commitment to support the development of Ukrainian capital markets, which will be critical in the recovery effort," said USAID Administrator Samantha Power.
