Ukraine and France sign EUR 1.3 billion in agreements

French Economy and
Finance Minister Bruno Le Maire and President of Ukraine Volodymyr Zelensky
signed four framework agreements on projects totaling more than EUR
1.3 billion on May 13.
Zelensky’s team announced the signing on the president’s website, as part of
the coverage of Le Maire’s visit to Kyiv.

The projects include
improvements to the water supply of the city of Kyiv and Luhansk Oblast, the
supply of over 100 Alstom locomotives “with the production localization level
of 35%”, and the supply of 370 rescue vehicles for the State Emergency Service
of Ukraine. The French government will be providing the bulk of the financing
for these projects.

James Hydzik: All of
the projects cover dire needs in Ukraine, where infrastructure and equipment
upgrades will remain a long-term issue that can only be solved piecemeal. The
financing is a vital component of the deal, especially for the locomotives, as
Alstom’s competitors such as GE are also active on the market.