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
The Swiss Parliament has narrowly approved a measure that would allow the use of frozen Russian assets held in the country to help fund the reconstruction of Ukraine, the AFP news agency has reported. The Council of States, the upper house of Switzerland's parliament, voted 21 to 19
The US Department of State and the US-based think tank German Marshall Fund (GMF) will collaborate to help redesign and rebuild up to three war-ravaged Ukrainian cities, the State Department announced. The program, to be called Ukraine Cities Partnership (UCP) for Sustainable Urban Recovery, will take the form
The UK is willing to lend Ukraine all frozen Russian assets held in Britain on the understanding that Russia will be forced to pay reparations when the war is done, said UK Foreign Secretary David Cameron. "There is an opportunity to use something like a syndicated loan or a
The European Commission has joined growing calls for the European Investment Bank (EIB) to scrap its restriction against funding defence projects in a push to bolster the fight against the Russian invasion of Ukraine. The EIB, which has extended €1.7 billion in financing for Ukraine repair and reconstruction projects
Skoda and Dacia thrived in the transition from communism to capitalism, while the Yugo crashed in infamy and the Trabant disappeared in a cloud of exhaust. As far as Eastern European vehicle history goes, Ukraine's boxy Luaz jeep appeared to die from neglect amid the chaos. However, like
Palantir, the US tech firm founded by billionaire Peter Thiel, has agreed to supply the Ukrainian government with big data and artificial intelligence technologies to help with land mine clearance. Under the agreement, Palantir will digitize Ukrainian demining operations, automate mine clearance operations up to 2033, help set demining priorities
The UK government's development finance arm, British International Investment (BII), will start offering up to £250 million in financing to private sector companies for reconstruction projects in April, the Ukrainian government said. The financing package, authorized by the UK government last June, marks the BII's first
