The Minister of Economy, Environment, and Agriculture of Ukraine, Oleksiy Sobolev, held a bilateral meeting with Pierre Elbran, the Special Envoy of the President of the French Republic on Economic Assistance and Ukraine’s Recovery. The parties discussed institutional changes within the Government of Ukraine and the further deepening of Ukrainian-French economic partnership.
Among the key topics were the creation of a new Ukraine Recovery Support Fund, as well as the preparation of a new intergovernmental agreement between Ukraine and France, which is planned to be signed by the end of 2025.
“France is a major and consistent partner of Ukraine. Today, our economic relations within the framework of the new Ministry will only strengthen. We are already working on the new Recovery Support Fund, which provides for mixed financing of projects. This new format will involve attracting private capital, which will expand investment opportunities and activate financing of reconstruction initiatives. We sincerely thank France for this support,” emphasized Oleksiy Sobolev.
The parties also discussed the preparation of a new intergovernmental agreement covering a range of strategic sectors, focusing on industrial cooperation between French and Ukrainian companies, taking into account the requirements and standards of the European Union. They also considered the possibility of creating additional instruments to attract investment in key sectors of the economy.
Special attention was given to cooperation with the French company Alstom under an agreement for the supply of 55 locomotives worth 490 million euros, financed by the World Bank and the EBRD. Additionally, prospects for further financing of 300 million euros through a concessional loan from the French Government for another 30 locomotives were discussed. The signing of the agreement is expected in August during the economic summit with the participation of the Presidents of Ukraine and France.
Regarding cooperation in the agricultural sector, the parties discussed:
- The issue of importing Ukrainian agricultural products, with a focus shifting to the development of the processing industry.
- The initiative to create grain hubs in the Middle East, particularly in Egypt, for the safe storage and distribution of Ukrainian grain. This will enhance regional food security and allow Ukraine to avoid risks associated with storage within the country.
The parties also confirmed holding a meeting of the Ukrainian-French Economic Commission in Kyiv in November 2025 and agreed to appoint its head. They also decided to designate a responsible person to coordinate with the French Embassy and to form a consortium for a private investment fund.
