The executive board of the International Monetary Fund approved the release of $880 million in budget support to Ukraine following the third review of the international lender's $15.6 billion loan program for the country. The board's approval of the disbursement, which had been recommended at
The European Commission has proposed transferring about €3 billion per year in profits generated by frozen Russian assets to Ukraine, with about 90% earmarked for military spending this year and 10% for the general budget. Under the proposal, which still needs to be approved by European Union member states at
Ukraine has received €4.5 billion of the €50 billion in European Union aid approved last month and is slated to receive another €1.5 billion next month if it meets certain milestones, Deputy Prime Minister Yulia Svyrydenko said. The initial funding, meant to help cover budget spending, was transferred
European Parliament negotiators reached a provisional agreement with the European Commission to allow Ukrainian food producers tariff-free access to the European Union markets for another year. The lawmakers agreed to a Commission proposal to extend Ukraine's tariff-free status to June 2025 but managed to add oats,
The European Investment Bank plans to lend Ukrhydroenergo, Ukraine's state-run hydropower generator, a further €100 million to replace equipment at three power plants, the company said. The loan, which still needs final approval from the EIB, will replace the hydraulic systems at the Kaniv, Kremenchuk and Dnipro
Kyiv-based Arricano Real Estate, which develops shopping and entertainment properties, will buy back its own shares, totaling a 12.51% stake, from Ukrainian investment firm Dragon Capital so it can introduce an investor from the US. Arricano, which says it has the biggest portfolio of completed shopping malls in
Ukraine's Cabinet approved a national program meant to form the basis for receiving €50 billion in European Union aid under the so-called Ukraine Facility assistance program. The plan sets out a series of structural reforms in public administration, the civil service, financial markets, audit and control, and
Support among European Union member states for using the profits generated from frozen Russian assets to support Ukraine's fight against Russia is "strong" but not unanimous, the EU's foreign policy chief Josep Borrell said. Speaking after a meeting with the EU Foreign Affairs Council,
Subsidized loans to Ukrainian businesses have totaled 18 billion hryvnias ($460 million) so far this year, with almost half going to the agriculture sector, the government has announced. The government's "Affordable Loans 5-7-9%" program, which offers loans at annual interest rates of between 0
The European Union will use profits generated from frozen Russian assets to buy weapons for Ukraine, German Chancellor Olaf Scholz said, confirming that the funds will not be reserved for the reconstruction effort. Speaking in Berlin at a joint press conference with French President Emmanuel Macron and Polish Prime Minister
This week in the reconstruction of Ukraine witnessed the rebirth of the Soviet-era Luaz jeep as a rough-and-tumble grocery-hauling electric vehicle, an S&P rating cut, a planned reinforcement of US Embassy staff, hot news on frozen assets, a struggle for position in upcoming reconstruction
The Ukrainian government has allocated 3 billion hryvnias ($78 million) to compensate farmers who pay to demine their properties, Prime Minister Denys Shmyhal said. The allocation, which is a third more than the 2 billion hryvnias originally planned, will cover 80% of the cost of demining for farmers who procure
The European Commission aims to give Ukraine between €2 billion and €3 billion from profits generated by frozen Russian assets as early as July, the Financial Times reported, citing unnamed officials. The plan, which would need the approval of European Union member states, could be proposed before a summit of
Bond investors are "clamoring" for the European Union to issue war bonds to fund Ukraine's struggle against Russia as they seek to stop the Russian invasion and benefit from AAA-rated securities at the same time, Bloomberg reported. An EU bond issuance would allow the West
The European Commission plans to provide a draft negotiating framework to the European Union member states next week as the next step in talks over Ukraine's accession to the union, Commission Vice President Valdis Dombrovskis said during a trip to Kyiv. "For next week, we are preparing
S&P Global cut Ukraine's long-term foreign currency credit rating and warned that it expects the country to default on its external commercial obligations as the war drags on at least through the year and government spending remains extremely high. "The rating action reflects our
