Bonds from Ukrainian cities will be sold in Poland.

The National Depository of Ukraine signed an agreement on cooperation with the Central Depository of Poland (KDPW) to establish correspondent relations for “delivery of securities without payment” operations. The NDU explained that this will allow cross-border transfers of securities, namely Ukrainian municipal bonds. KDPW will ensure the accounting of these securities in the depository system of Poland. The NDU added that the placement of Ukrainian municipal bonds on the EU market will help attract capital and create ways to increase the inflow of foreign investments into Ukraine. The reconstruction of Ukrainian cities and the economy will require significant financial resources, and the capital market should play an important role in this, the KDPW clarified. As of today, bonds from the Kyiv, Kharkiv, and Lviv city councils are in circulation in Ukraine, with a total nominal value of over UAH 3.1B ($82M).