Ukraine and Austria agreed on economic cooperation in the development of projects

First Deputy Prime Minister of Ukraine – Minister of Economy Yulia Svyrydenko and Federal Minister of Labor and Economy of the Republic of Austria Martin Kocher have signed the Framework Agreement between the Government of Ukraine and the Government of the Republic of Austria on economic cooperation in the development of projects. The signing of the agreement took place on Sunday, September 4, in Kraków during Yulia Svyrydenko’s visit to Poland.

“The attack of the RF is an attack not only on Ukraine, but also on the entire European system, therefore the restoration of our state must be our common goal. We are grateful to our Austrian partners for their willingness to actively participate in the reconstruction of Ukraine and invest in its development. We hope that the agreement on economic cooperation signed today will allow us initiating a number of important projects, in particular, in the field of health care. The construction and equipment of the National Children’s Specialized Hospital Okhmatdyt and the modern university clinic in Kyiv, as well as the creation of the National Rehabilitation Center in Lviv are among the priorities. The estimated cost of these projects will be more than 500 million euros”, First Deputy Prime Minister of Ukraine – Minister of Economy Yulia Svyrydenko said.

According to her, related preferential long-term financing under the guarantees of European export credit agencies will be involved for the implementation of the mentioned projects. It is expected that the effective rate of attracting funds will not exceed 3% per annum, and the borrowing period will be up to 14 years. Such preferential targeted financing of socially significant projects is a good alternative and addition to more expensive and short-term obligations, which are usually borrowed to replenish the working capital of the state budget.

In accordance with the Agreement on economic cooperation in the development of projects, the governments of Ukraine and Austria agreed on:

  • using the economic potential to strengthen bilateral economic relations;
  • promoting the development of modern social and educational infrastructure, in particular the development of a network of modern medical and vocational educational institutions;
  • promoting the development of the insurance medicine market in Ukraine;
  • activation of bilateral economic relations, in the field of investments, innovations and implementation of economic projects, especially in the field of medical technologies and healthcare facilities, but not limited to them.

First Deputy Prime Minister also expressed her gratitude to Austrian partners for the financial and humanitarian assistance to Ukraine and for Austria’s initiative to take the lead in the reconstruction of the Zaporizhzhia Oblast, which needs demining of the territory, restoration of residential, educational, medical infrastructure, as well as housing and communal facilities destroyed during the war.