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EBA discussed proposals for the reconstruction of Ukraine with German business

28/ 10/ 2022
  Yesterday, the European Business Association held a joint meeting with the representatives of the German Eastern Business Association (OA) to discuss the proposals of the German business community for the reconstruction and recovery of Ukraine. Moreover, the results of the recent fifth German-Ukrainian Business Forum held in Berlin were discussed. The meeting was opened by the Executive Director of the European Business Association, Anna Derevyanko, with the words of the German Chancellor Mr. Scholz during the conference in Berlin that investments in Ukraine today are investments in the future member state of the European Union. That is investments in the future of Europe. Therefore, it is important to think about the future of Ukraine now. In this context, the European Business Association does not stand still. Thus, the EBA has recently launched its extraterritorial unit – Global Business for Ukraine, whose important mission is to unite global business around Ukraine, to help find partners, and contractors from Ukraine, and to be the right hand for those who are interested or planning to invest in Ukraine. Olga Balytska, Head of the EBA Ukraine Recovery Committee, stressed that the EBA established the new Committee to enable businesses to exchange thoughts, ideas, and visions on the restoration of Ukraine within the Association. The first important product has already been created – the White Paper on the restoration of Ukraine and it will be published soon. Michael Harms, President of the German Eastern Business Association, stressed that Germany supported Ukraine and was ready to assist in the reconstruction, as well as the G7 countries. This was also discussed during the events in Berlin. Of course, the drawback is the slowness of bureaucratic procedures. Moreover, business needs not only risk insurance, but also guarantees. It is worth noting that Germany already has a risk insurance mechanism for businesses that plan to invest in Ukraine. Therefore, we hope that within a few months, this mechanism will be adopted and will work in practice. After all, the lack of effective insurance mechanisms for private investments in the Ukrainian economy is one of the main obstacles that hinder the recovery of Ukraine today. Therefore, the positive experience of Germany after the full launch of the investment insurance mechanism can become a kind of guideline for other governments. Moreover, Ukraine is actively working with MIGA in the context of war risk insurance, which has already allocated $30 million for the pilot project. Another aspect that needs to be ensured for effective reconstruction is transparency so that the reconstruction process is carried out efficiently and the trust of international partners is maintained. Stefan Kägebain, Regional Director of the German Eastern Business Association stressed the importance of business cooperation in various sectors, particularly in energy, as well as the importance of cooperation between the government and business. At the same time, on December 8, the German-Ukrainian Energy Day will be held in Berlin, to which Ukrainian suppliers are also invited. Among other issues, the participants of the meeting discussed the Proposals of the German business community for the restoration and modernization of the Ukrainian economy prepared by the EBA. The document contains specific proposals for the restoration of Ukraine and cooperation between German and Ukrainian businesses in certain sectors, including construction, infrastructure, energy, digitalization, agriculture, and healthcare. The participants of the meeting welcomed the proposals and agreed on mechanisms for their further implementation and expansion of proposals by the Association. The European Business Association sincerely thanks the German Eastern Business Association for the important discussion! The Association will continue to hold such events to facilitate the establishment of contacts between Ukrainian and foreign companies. After all, effective cooperation and investment attraction is the key to the recovery and development of Ukraine.

Yesterday, the European Business Association held a joint meeting with the representatives of the German Eastern Business Association (OA) to discuss the proposals of the German business community for the reconstruction and recovery of Ukraine. Moreover, the results of the recent fifth German-Ukrainian Business Forum held in Berlin were discussed.

The meeting was opened by the Executive Director of the European Business Association, Anna Derevyanko, with the words of the German Chancellor Mr. Scholz during the conference in Berlin that investments in Ukraine today are investments in the future member state of the European Union. That is investments in the future of Europe. Therefore, it is important to think about the future of Ukraine now. In this context, the European Business Association does not stand still. Thus, the EBA has recently launched its extraterritorial unit – Global Business for Ukraine, whose important mission is to unite global business around Ukraine, to help find partners, and contractors from Ukraine, and to be the right hand for those who are interested or planning to invest in Ukraine.

Olga Balytska, Head of the EBA Ukraine Recovery Committee, stressed that the EBA established the new Committee to enable businesses to exchange thoughts, ideas, and visions on the restoration of Ukraine within the Association. The first important product has already been created – the White Paper on the restoration of Ukraine and it will be published soon.

Michael Harms, President of the German Eastern Business Association, stressed that Germany supported Ukraine and was ready to assist in the reconstruction, as well as the G7 countries. This was also discussed during the events in Berlin. Of course, the drawback is the slowness of bureaucratic procedures. Moreover, business needs not only risk insurance, but also guarantees. It is worth noting that Germany already has a risk insurance mechanism for businesses that plan to invest in Ukraine. Therefore, we hope that within a few months, this mechanism will be adopted and will work in practice. After all, the lack of effective insurance mechanisms for private investments in the Ukrainian economy is one of the main obstacles that hinder the recovery of Ukraine today. Therefore, the positive experience of Germany after the full launch of the investment insurance mechanism can become a kind of guideline for other governments. Moreover, Ukraine is actively working with MIGA in the context of war risk insurance, which has already allocated $30 million for the pilot project.

Another aspect that needs to be ensured for effective reconstruction is transparency so that the reconstruction process is carried out efficiently and the trust of international partners is maintained.

Stefan Kägebain, Regional Director of the German Eastern Business Association stressed the importance of business cooperation in various sectors, particularly in energy, as well as the importance of cooperation between the government and business.

At the same time, on December 8, the German-Ukrainian Energy Day will be held in Berlin, to which Ukrainian suppliers are also invited.

Among other issues, the participants of the meeting discussed the Proposals of the German business community for the restoration and modernization of the Ukrainian economy prepared by the EBA. The document contains specific proposals for the restoration of Ukraine and cooperation between German and Ukrainian businesses in certain sectors, including construction, infrastructure, energy, digitalization, agriculture, and healthcare. The participants of the meeting welcomed the proposals and agreed on mechanisms for their further implementation and expansion of proposals by the Association.

The European Business Association sincerely thanks the German Eastern Business Association for the important discussion! The Association will continue to hold such events to facilitate the establishment of contacts between Ukrainian and foreign companies. After all, effective cooperation and investment attraction is the key to the recovery and development of Ukraine.

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