Ukraine plans post-war reconstruction efforts with JPMorgan Chase as economic advisor

signed an agreement with the government of Ukraine JPMorgan Chase To help advise the war-ravaged country on its economy and future reconstruction efforts.

Ukraine’s Ministry of Economy signed a memorandum of understanding with a group of New York-based bank executives on 9 February, aimed at the country’s reconstruction and development. statement From President Volodymyr Zelensky.

A year after its conflict with Russia, which invaded Ukraine in February 2022, Ukraine’s government is laying the groundwork to help rebuild the country. The invasion killed thousands of civilians and triggered Europe’s biggest refugee crisis since World War II. it also ignited corporate getaway from Russia, and has helped mobilize support for Ukraine.

JPMorgan will expand its debt capital markets operations, payments and commercial banking operations to help stabilize the country’s economy and credit rating, manage its wealth and advance its digital adoption, according to a person with knowledge of the deal. And will use infrastructure investment expertise.

It is particularly important to advise the country on efforts to raise private funds to help rebuild and invest in future growth in sectors including renewable energy, agriculture and technology.

“JP Morgan Chase’s full resources are available to Ukraine as it charts its post-conflict path to development,” CEO Jamie Dimon said in a statement.

Dimon said the bank is proud to support Ukraine and remains committed to its people. bank led $20 billion debt restructuring Over the past year, the country has pledged millions of dollars in support of its refugees.

President Zelensky spoke via teleconference with guests of JP Morgan’s annual wealth management summit in Miami on Friday after the agreement was signed. The discussion was moderated by former British Prime Minister Tony Blair and former Secretary of State Condoleezza Rice.