UNDP, Economy Ministry sign MoU, aim to boost collaboration in sustainable development, economic growth

May 10, 2024
Photo credit: Oleh Tereshchenko / Ministry of Economy of Ukraine

KYIV, Ukraine, 10 May 2024 – The Ministry of Economy of Ukraine and the United Nations Development Programme (UNDP) in Ukraine have officially entered into a Memorandum of Understanding (MoU) to strengthen collaboration in promoting sustainable development and economic growth in Ukraine.

The UNDP is the operational arm of the United Nations that works to advance sustainable development goals, eradicate poverty, promote gender equality, and foster good governance. The partnership with the Ministry of Economy of Ukraine aims to enhance sustainable development activities in Ukraine, aligning with Ukraine’s national priorities and leveraging each organization's expertise and resources.

The MoU sets out a wide range of areas for cooperation, including:

  • Promoting sustainable business models such as circular and sharing economy, and social entrepreneurship to foster sustained, inclusive, and sustainable economic growth.
  • Facilitating public-private dialogue and building cross-sectoral partnerships for the sustainable recovery of the economy.
  • Supporting favourable conditions for attracting investment and lending to micro, small, and medium-sized businesses, with a focus on special interest groups such as veterans, individuals with disabilities, displaced/returning individuals, women, and youth.
  • Developing human capital for economic growth and ensuring a sustainable recovery process.
  • Enhancing the labour market through targeted initiatives and policies to ensure equitable access to employment opportunities for vulnerable groups, including persons with disabilities and youth.
  • Implementing responsible business standards and facilitating private sector development in line with EU corporate sustainability policies to enhance competitiveness in international markets.
  • Supporting reconstruction efforts, access to finance, essential business infrastructure, and industrial property for micro, small, and medium-sized enterprises.
  • Strengthening internal capacity building, external coordination, and financial structuring within the Economy Ministry to deliver on its mandate effectively.
  • Enhancing coordination in mine action under the Inter-Agency Working Group on humanitarian demining, chaired by the First Deputy Prime Minister and Minister of Economy.
  • Exploring technological advancements and innovative practices to contribute to strategic development priorities for economic recovery and development.

First Deputy Prime Minister of Ukraine and Minister of Economy Yuliia Svyrydenko, signing on behalf of the Economy Ministry of Ukraine, said that signing the memorandum would contribute to the development of the business environment, support for small and medium-sized enterprises, and government efforts in humanitarian demining.

“The document outlines extensive collaboration across various sectors, including fostering private sector growth in regions, facilitating favorable conditions for investment attraction, and financing micro, small, and medium-sized enterprises. Of particular significance is the support for reconstruction efforts and improving access to financing, essential infrastructure, workspace, and business services.” 

“Moreover, key aspects involve promoting labor market development, integrating innovative practices, and enhancing coordination in mine action activities,” Svyrydenko said.

UNDP Resident Representative in Ukraine Jaco Cilliers said the partnership marks a significant step towards fostering sustainable development and economic resilience in Ukraine. 

“By further strengthening our collaboration with the Ministry of Economy, the UNDP aims to leverage its expertise and resources to support Ukraine's recovery and development efforts, ensuring that no one is left behind,” Cilliers said after signing the MoU on behalf of the UNDP in Ukraine.

Media inquiries:

Yuliia Samus, Head of Communications, UNDP in Ukraine; email: yuliia.samus@undp.org