Business news from Ukraine

The Ukrainian Corporation for Viticulture and Winemaking “Ukrvinprom” and the state-owned “Ukrgasbank” have signed a cooperation agreement aimed at supporting the development of the Ukrainian wine industry, implementing joint projects, developing wine tourism, and introducing modern financial instruments for companies in the industry, the corporation reported.

As Ukrvinprom CEO Volodymyr Kucherenko stated in a comment to Interfax-Ukraine, the goal of the agreement is to create opportunities for further cooperation and provide winemakers with access to the bank’s financial instruments.
The agreement does not specify a fixed amount of funding. Industry enterprises will have access to the bank’s financial instruments as needed and within the framework of specific projects, in accordance with the terms of the bank’s programs.

“It is important to us that this particular agreement opens up an additional tool to support our winemakers and industry enterprises. You will see concrete results in certain areas of this cooperation, I think, in the very near future—even before the end of this year,” he said.
According to Kucherenko, the collaboration will also encompass the development of wine tourism and the preservation of Ukraine’s winemaking cultural heritage.

“We see the need to revive, preserve, study, and restore the so-called Mazepa Wine Cellar. We also see other areas that we are currently exploring. We hope that with the help of ‘Ukrgasbank’ and other patrons, we will be able to revive our Ukrainian winemaking heritage. And not only revive and preserve it, but also build upon the achievements of our winemakers,” Kucherenko noted.

He added that “Ukrvinprom” is open to cooperation with all market participants. In the first phase, the corporation plans to help its members gain access to special programs developed jointly with the bank, as well as to inform market participants about available opportunities.
The agreement was signed on September 18 during the 5th International Forum “Ukrainian Wine—Part of the World’s Cultural Heritage: From Trypillia to the Present Day” in Kyiv. One of the forum’s topics was financing opportunities for investments in winemaking and wine tourism.