Why Business Approval in the USA is Key to Economic Recovery

The US Government went to the Ukraine Recovery Conference in Berlin, Germany, last week. Over 1,500 people from the government, business, The following are the results from the first conference:Given that Russia is still attacking Ukraine, $824 million in energy aid is being sent to help its energy infrastructure. This includes letting Congress know that we plan to give Ukraine an extra $500 million in energy aid and using $324 million from other energy aid that was already planned to meet Ukraine's most urgent needs. This means that the US has given almost $1.5 billion to Ukraine's energy system since 2022.

Ukraine has set up the $50 million first-ever war-risk reinsurance fund



meant to meet a major market need for businesses working in Ukraine while Russia's full-scale invasion is still going on. The US International Development Finance Corporation (DFC) will be able to reinsure the war risk that is covered by ARX, a Ukrainian subsidiary of Fairfax Financial Holdings Limited. Aon will be in charge of this reinsurance program, which will also help ARX expand its war-risk insurance product in Ukraine.The United States and Germany worked together to set up the Multi-Agency Donor Coordination Platform's Business Advisory Council (BAC). There is a $28 million loan portfolio guarantee for small and medium-sized businesses (SMEs) in Ukraine. The US Agency for International Development (USAID) is helping to fund this project. As part of it, DFC will give ProCredit Bank Ukraine a loan portfolio guarantee to urge them to lend to small businesses across Ukraine. At least half of the money will go to agriculture.More than $350 million worth of political risk insurance (PRI) contracts were signed in Ukraine. DFC management recently accepted four new PRI contracts worth a total of more than $350 million. These contracts cover important areas for Ukraine's economic growth, such as education, medicine, and agriculture.DFC and the European Bank for Reconstruction and Development (EBRD) made a "declaration of intent" to back the EBRD's trade financing plan in Ukraine. The goal of this work is to look into ways to share trade finance risk on trade instruments backed by approved local banks Citi and Ukraine's Ministry of Economy and DFC have signed a memorandum of understanding (MOU) to work together to find ways to boost mortgage loans in Ukraine. The Ministry of Economy, DFC, and Citi all signed this Memorandum of Understanding to work together on finding ways to support home mortgages in local currency.

A statement from the G7+ on the progress made since URC2023 and the new support



The US helped write the US-led G7+ Joint Statement, which promises to keep helping Ukraine's energy industry, and we will back it.The Joint Statement will talk about what the US and its partners have done to help, as well as the Ukrainian government's work on major energy sector reforms and the next steps it plans to take to make the business environment better.The US, UK, EU, and Ukraine will work together through the Multi-Agency Donor Coordination Platform (MDCP) to set up a pre-project preparation framework with the World Bank and European Investment Bank (EIB). This framework will be open to other partners and will make it possible for priority recovery and reconstruction projects to get outside investment.USAID worked with the Federal Ministry of Economic Cooperation and Development on three projects: the SMEs, Skills, and Gender Alliances.The Skills Alliance Because the skills gap is so big and there isn't much time to train a lot of people, any answer that is suggested must put innovation and involvement from the private sector at the top of the list.The Alliance's goals can be reached with the help of USAID's current workforce development programs in areas like youth jobs, digital and cyber security, veteran inclusion, and making businesses more competitive.Alliance for Gender-Friendly and All-Inclusive Recovery: Gender equality and social inclusion are important to USAID/Ukraine in all of its activities. They are a part of all present and future programming, which helps the Alliance reach its goals and achieve its desired outcomes. Joining the Alliance makes it clear to donors, international groups, and businesses that Ukraine needs to recover in a way that includes and respects women. This is important for the recovery to be successful and last.

Alliance for SME Resilience in Ukraine



USAID's private-sector strategy helps Ukraine's economy recover quickly by supporting small and medium-sized businesses (SMEs), which are the building blocks of a strong private sector, in making the economy more resilient, encouraging innovation, and providing high-value jobs. Joining the Alliance shows that USAID is committed to helping small and medium-sized businesses, which are a key part of the economic rebound.The Sustainable Municipalities Coalition for Ukraine now has USAID as a member. USAID/Ukraine is working on projects that are in line with the goals and themes of the Sustainable Municipalities Coalition. It fits with what USAID is already doing as part of the governance and decentralization program. The goal of this program is to strengthen local government organizations so they can provide more essential services and help the economy recover and grow. By joining the Coalition, USAID and Ukraine's programs will be shown to support the goals of the Sustainable Municipalities Coalition.The EBRD and USAID have agreed to work together on infrastructure, economic growth, and energy projects to help Ukraine get back on its feet. The EBRD and USAID work together in many areas in Ukraine. For example, the EBRD builds transportation infrastructure that goes along with USAID's investments in trains and border crossings. The MOU says that both sides want to work together at the strategic and programmatic levels to increase their power and make Ukraine's economy stronger so that it can handle Russia's ongoing attacks.USTDA's technical training on deploying nuclear power. Representatives from Ukraine's nuclear power industry will go to the US to attend the first of four workshops on Europe and Eurasia Civil Nuclear Energy Deployment, which are being sponsored by the US Trade and Development Agency (USTDA). The workshops will be held in both the US and Europe and will look at ways to further deploy nuclear power in Ukraine and the region.

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