© Reuters. File photo: The Nasdaq logo is displayed at the Nasdaq Markets site in Times Square in New York City, U.S., on December 3, 2021. Reuters/Gina Moon/file photo
WASHINGTON (Reuters) – Exchange operator Nasdaq has signed a partnership agreement with the Ukrainian government aimed at supporting the development of Ukrainian capital markets, the U.S. Agency for International Development (USAID) said on Monday.
USAID, which has helped Ukraine match foreign investors with Ukrainian companies, said the memorandum of understanding calls for Nasdaq to provide a range of technical assistance to the Ukrainian government as it works to open a new international finance center. And the Ukrainian capital market is ready to develop.
“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 independence,” USAID Administrator Samantha Power said in a statement.
He said investors are demonstrating their confidence in Ukraine’s future, with about $4.1 billion of foreign direct investment coming into the country in the first three quarters of 2023. Data for the full year was not immediately available.
“This partnership further underlines the attractive investment opportunities Ukraine offers. We welcome Nasdaq’s commitment to supporting the development of Ukrainian capital markets, which will be critical in recovery efforts.”
The agreement was to be signed online on Monday by Nasdaq Executive Vice President Ed Knight and Ukraine’s First Deputy Prime Minister Yulia Sviridenko, a USAID spokesman said.
Under the deal, Nasdaq will advise the Ukrainian government on regulation and governance practices of public companies, promote entrepreneurship among Ukrainians through workshops and training, and advance capital formation for Ukrainian companies, including those listed on Nasdaq’s US and European markets. Involves providing education and assistance regarding the listing. ,
The deal could pave the way for future listings of Ukrainian companies on US and European exchanges, but would require separate approval by US securities regulators.
USAID said the signing was an important part of U.S. efforts to help Ukraine become more self-reliant and “fully integrated into Euro-Atlantic institutions” to lay the groundwork for stronger development.
There was no immediate comment from Nasdaq or the Ukrainian government.
USAID helped facilitate the deal by working with the private sector to meet needs in Ukraine. It had previously helped broker donations of laptops and software to Ukrainian students and teachers by large American companies, and helped donate drones to Ukraine to help detect and document war crimes.
USAID also partners with the private sector to support Ukrainian grain production and exports, and to date has mobilized more than $250 million in private sector agricultural partnerships, including investments in seed production.
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