Reaching a peace agreement that is fair and sustainable will allow the EU to increase its focus on financing recovery, European Economic Commissioner Valdis Dombrovskis said.
“Obviously, we will then need to discuss with the Ukrainian authorities and see how we adjust our funding from international donors, obviously, because one of the main assumptions in this assessment of funding needs is always the question of how long the war is going on, what the intensity is, and so on,” he told reporters at a press conference on Thursday following his visit to Kyiv.
Dombrovskis emphasized that the EU, for its part, is ready to adjust its funding both in the context of, for example, a reduction in US military aid and in the context of progress in a ceasefire or peace agreement.
He reminded that the EU’s Ukraine Facility program is currently designed to support Ukraine until 2027, while the ERA loan mechanism from G7 partners at the expense of frozen Russian funds is designed to cover part of 2026.
“And then, of course, we will need to see if and how much additional funding is needed. Usually, this process is organized in such a way that the IMF has to assess the financing needs for Ukraine, and then international donors work on how we cover these financing needs,” the European Commissioner explained.
According to him, this program usually starts somewhere in the middle of the year, because, obviously, all this is surrounded by very high uncertainty.
In the framework of President Shavkat Mirziyoyev’s state visit to Paris, the Foundation for the Development of Culture and Art of Uzbekistan and the French Ministry of Culture signed a number of agreements on cooperation in the field of culture.
The documents were signed by the head of the Foundation, Gayane Umerova, and the French Minister of Culture, Rachida Dati.
One of the agreements is a declaration on cooperation between the cultural institutions of the two countries. It envisages the development of academic exchanges between the Alfred Cortot School of Music in Paris and the State Conservatory of Uzbekistan, as well as support for joint film projects.
An agreement was also signed to hold the exhibition “Uzbekistan: Avant-Garde in the Desert” in France and an international conference on museums and artificial intelligence in Samarkand as part of the 43rd session of the UNESCO General Conference.
The Italian Agency for Cooperation Development (AICS) has announced a grant competition for land clearance from mines and other remnants of war in the frontline regions with a total budget of EUR 6 million, with the amount of one project not exceeding EUR 1.8 million.
As reported on the website of the Ministry of Economy of Ukraine on Thursday, the projects should be aimed at non-technical and/or technical survey of the territories, and include an element of informing the population about mine threats. Kharkiv region, where 55 out of 56 communities have been affected by the war, has been chosen as a priority for the implementation of projects within the competition.
“This is the first time that one of the partner countries has allocated money directly for the clearance of our land, involving Ukrainian mine action operators in this process. I believe that such cooperation will allow us to quickly return to use and identify contaminated areas and strengthen cooperation not only at the level of institutions, but also between organizations and companies of our countries that strive to make Ukrainian land safer,” said Yulia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine.
Only non-profit organizations can apply for the competition, but they can also engage commercial mine action operators as partners in project implementation.
Applications will be accepted until May 11 this year. The total planned duration of the projects is up to 15 months.
The session of the International Olympic Committee (IOC) has unanimously voted to include boxing in the program of the 2028 Olympic Games to be held in the United States.
“Thank you for approving the return of boxing to the Olympic program. We look forward to a great Olympic boxing tournament,” IOC President Thomas Bach said after the vote.
Bach noted that the competition will be organized by the World Boxing Federation. World Boxing was founded in 2023 after the severance of relations between the IOC and the International Boxing Association (IBA). The 2028 Summer Olympics will be held in Los Angeles from July 14 to 30.
Heating boiler manufacturer Mayak Plant JSC (Mayak JSC, Zmiiv, Kharkiv region) plans to pay dividends to shareholders in the amount of UAH 1,023 thousand per share (par value UAH 1 thousand) for 2024.
According to the draft resolutions of the company’s general meeting of shareholders scheduled for April 21, dividends are to be paid between July 25 and October 25 this year.
The authorized capital of the company is UAH 210 thousand, divided into 210 shares. Thus, the total amount of dividends will be UAH 214.83 thousand.
According to the company, in 2024, its net profit amounted to UAH 0.215 million (UAH 4.61 million a year earlier), and retained earnings amounted to UAH 16.37 million. Net income per share amounted to UAH 1.024 per share (in 2023 – UAH 21.96 thousand).
Last year, the company’s assets increased by 10% to UAH 65.64 million, in particular, total receivables increased by 3.6% to UAH 10.1 million, inventories decreased by 26% to UAH 21.6 million, while cash and cash equivalents increased 2.5 times to UAH 24.5 million.
Over the year, Mayak JSC increased its current liabilities by 7.4% to almost UAH 6 million, while long-term liabilities more than quadrupled to UAH 7.4 million.
As reported, in 2023, the company paid dividends at the rate of UAH 2.195 thousand per share.
According to the National Securities and Stock Market Commission (NSSMC), as of the third quarter of 2024, 52.381% of the shares of Mayak Plant JSC are owned by CEO Oleksiy Mushtai, and 14.2857% each by Tetyana Samusenko and Zoya Garagata.
The Mayak plant was established in 1991 and produces household heating appliances under the Mayak brand.
According to Clarity-project, the company’s net income in 2024 decreased by 6% compared to 2023, to UAH 65.7 million.
Ukrlithium Mining LLC (Ukrlithium) has received a special permit to develop the Polokhivske lithium deposit in full compliance with the law, the company said in a statement.
“Recently, there has been an increase in media attention around rare earth metals and the Polokhivske lithium ore deposit. This demonstrates the high interest of society and international partners in Ukraine’s resource potential. At the same time, unfounded accusations against our company have appeared in the public space. We would like to clarify this situation and provide a comprehensive explanation,” the statement said.
It is clarified that the Polokhivske deposit belongs to the Ukrainian people, as the country’s subsoil is the property of the country and its citizens. “Ukrlithium mining is the first and only company in Ukraine to obtain a special permit for the development of the Polokhivske lithium deposit in full compliance with the law, to go through all the necessary procedures and to pay mandatory payments to the state budget in the amount of UAH 119 million.
After obtaining the special permit, the company continued geological exploration and investment in research. Since 2017, it has invested more than UAH 300 million in the development of the field, conducted an international assessment of reserves, and is fulfilling its obligations to the state.
As emphasized, all processes took place under the control of state authorities. The legitimacy of the company’s operations has been repeatedly confirmed in courts, namely, more than 49 court cases have been won. The legality of the actions and decisions of the State Service of Geology and Mineral Resources of Ukraine, on the basis of which Ukrlithium Mining was issued a special permit after paying all payments for subsoil use, and the special permit itself, was confirmed by the decision of the Kyiv Administrative Court of Appeal in 2019. This made it possible to continue investing in the project, even despite the war.
According to the statement, Ukrlithium mining is a legal business. Investors from the United States, the United Kingdom, and other countries are interested in its project. Any attempts to discredit the company’s work not only damage its reputation but also pose a threat to Ukraine’s investment climate as a whole.
“We are ready for any inspections, both Ukrainian and international. If the attacks on the company continue, we will defend our honor and business reputation in the legal field, including at the international level,” the document says.
“We are confident that we are right, so we will use all legal powers to defend ourselves,” it concludes.
In turn, the National Association of Mining Industry of Ukraine supported Ukrlithium’s position.
“We, as representatives of an industry that strives for transparency and zero tolerance for corruption, support our member and once again want to express public support for transparent and innovative Ukrainian business,” the association said in a statement.
As reported, Ukrlithium Mining LLC (Ukrlithium) intends to build a lithium mine in Kirovohrad region.
According to the company’s website, the mine is expected to operate for 15 to 20 years with an annual production of up to 200 thousand tons of petalite concentrate. The company is also exploring the possibility of building a lithium hydroxide/carbonate plant.
In addition, Ukrlithium will produce about 1,100 thousand tons per year of lithium-containing feldspar per year.
