The European Bank for Reconstruction and Development (EBRD) will invest a total of up to $24.5 million and will to take a stake of up to 35% in the M10 Lviv Industrial Park project that is developed by Dragon Capital, led by Tomáš Fiala, the EBRD reported on its site on Feb. 17. The M10 Lviv … Read more
The International Monetary Fund mission and the Ukrainian government have agreed to review the exiting monitoring program with the involvement of the fund’s Board of Directors, IMF press service reported on Feb. 17. The IMF mission, led by Gavin Gray in Warsaw, assessed how Ukraine fulfills its obligations under the monitoring program. “The IMF staff … Read more
The European Bank for Reconstruction and Development (EBRD) forecasts a rise in Ukraine’s GDP only by 1% in 2023, down from the 8% forecast last September, the agency reported on Feb. 16. According to the EBRD, the region of eastern Europe and the Caucasus is facing enormous uncertainty in the short term because of the ongoing war … Read more
The European Union has established an ad hoc working group to develop plans for the use of frozen and immobilized Russian assets to support rebuilding Ukraine, the Swedish Presidency of the Council of the EU tweeted on Feb. 15. “EU ambassadors today approved the establishment of an ad hoc working party on the use of frozen and … Read more
Ukraine reduced its nitrogen fertilizer production by 4.6 times in 2022, while tripling imports, the Ministry of Agrarian Policy said in a statement on the situation with fertilizers in Ukraine on Feb. 14. In 2022, Ukraine produced 1.13 million tons of nitrogen fertilizers, which is 4.6 times less compared to 5.2 million tons in 2021, the ministry … Read more
The Russian Federation is blocking the operation of the humanitarian grain corridor through the Black Sea, Minister of Foreign Affairs Dmytro Kuleba and Reconstruction and Development Minister, Oleksandr Kubrakov said in a joint statement published on Feb. 15. Kuleba and Kubrakov highlighted that Russian representatives in the inspection groups and the coordination center in Istanbul have … Read more
The European Commission proposes to extend free mobile roaming to Ukraine. This is the first instance of an extension of the EU internal market treatment to Ukraine. Financial Times reports this information, referring to the statement of the European Commission. If the proposal is approved, Ukrainians will be able to use free mobile roaming on … Read more
Cyprus T.A.S. Overseas Investments Limited from Sergiy Tigipko’s TAS Group intends to acquire over 25% in Austrian TransAnt GmbH (Linz), a joint venture (JV) established by Austrian ÖBB Rail Cargo Group and voestalpine Stahl GmbH to produce innovative and cost-effective railway freight cars. According to a message of the Antimonopoly Committee of Ukraine (AMCU) on … Read more
Fitch Ratings has downgraded JSC Ukrainian Railways (Ukrzaliznytsia, UR) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘Restricted Default’ (RD) from ‘C’ following the execution of the consent solicitation to defer its debt servicing of its US dollar loan participation notes (LPN) maturing in 2024 and 2026. Fitch views the consent solicitation as a distressed debt … Read more
At the beginning of February, a batch of USA-produced diesel fuel arrived in Ukraine, making it the first case of import of American oil products in the history of the Ukrainian market, enkorr reports, citing the Ukrpaletsistem (UPG). “A tanker with a deadweight of 100,000 tons was accepted at the port of Hamburg, from where … Read more