Ukraine Recovery Vice Prime Minister Oleksandr Kubrakov and President of the European Investment Bank (EIB) Werner Hoyer signed a Memorandum of Understanding on cooperation in Ukraine recovery projects envisaging allocation of EUR 840 million in 2023.
According to the press service of the Ministry of Community Development, Territories and Infrastructure, the memorandum, signed during the Ukraine Recovery Conference 2023 (London, June 21-22), provides for the allocation of EUR840 million for the implementation in 2023 of priority projects to restore the infrastructure of Ukraine.
Kubrakov reminded that since the beginning of Russia’s full-scale invasion, the European Investment Bank has allocated EUR 1.7 billion in emergency aid to Ukraine. This money was used for the needs of the state budget and supported the economy of Ukraine.
“Today we are expanding our cooperation on the reconstruction of Ukraine. We will work together on a number of projects aimed at restoring municipal and transport infrastructure, improving energy efficiency, etc. We appreciate the support the Bank has already provided to Ukrainians, and we thank EIB President Werner Hoyer for his cooperation and the Bank’s critical role for Ukraine’s sustainability during the war,” Kubrakov said.
It is noted that EUR840 million, envisaged by the Memorandum, will be used for preparation, evaluation, financing and implementation of projects on reconstruction of municipal infrastructure (schools, hospitals, etc.); public buildings with consideration of energy efficiency; water supply and sewage infrastructure; transport networks and public transport.
The EIB will also finance the development of digital transformation and the strengthening of cybersecurity.
In addition, the Memorandum provides for the cooperation of Ukraine and the EIB on the use of a special trust fund from the EIB – EU for Ukraine Fund and lending projects in Ukraine with the support of the European Fund for Sustainable Development Plus (EFSD +) guarantees.
The Ministry of Reconstruction and the EIB will work on the implementation and application of a package of technical and consulting assistance for Ukraine worth about EUR100 million.
The European Investment Bank is one of the largest creditors of Ukraine. To date, the EIB’s portfolio of projects with the Ukrainian public and municipal sectors and businesses reaches more than EUR 7 billion.
The Dobrobut medical network has extended the program of gratuitous surgeries and hospitalizations for the wounded and children.
Dobrobut told Interfax-Ukraine that the program has been extended until August 31, while previously it was planned that the program, which began in April 2022, would end on June 20, 2023.
“The program operates for Ukrainians stranded by war. Soldiers and civilians with wounds and injuries as a result of military action, as well as children – in the direction of “emergency surgery” and with congenital malformations can receive surgical care free of charge. For children there is also a program of free care in the intensive care unit (resuscitation)”, – specified in the nurses.
At the same time the clinic noted that “the number of places in the program of free surgical and hospital care is limited and to get help it is necessary to leave an application by calling the contact center “Dobrobut”.
The program operates at the Dobrobut Medical and Diagnostic Center on Semya Idzikovskikh St. with the support of the international Direct Relief Foundation.
“Dobrobut” is one of the largest private medical networks in Ukraine. It includes 17 medical centers in Kiev and Kiev region, emergency service, dentistry and pharmacies. Medical centers of network provide services for children and adults in more than 75 medical directions. Annually experts “Dobrobutu” carry out more than 7 thousand operations. 2.8 thousand employees work in the network.
Dobrobut cooperates with a number of international charitable organizations such as Direct Relief International, Children of War Foundation, International Medical Corps and University of Miami Global Institute, as well as with the Dobrobut Charitable Foundation, founded by the clinic.
“Dobrobut was the first private network in Ukraine to receive funding from the U.S. federal government – with the support of the U.S. International Development Finance Corporation (DFC), the company will build a state-of-the-art physical rehabilitation center.
On June 21, 2023 Rating Committee of Expert-Rating RA has decided to withdraw the financial stability (reliability) rating of the insurer Alfa Insurance PJSC (Kyiv), according to the website of RA.
As it was reported, the rating committee of RA “Expert-Rating” has decided on December 23, 2022 to suspend the rating of the company, noting that it may be restored if the license of the company has been renewed.
Earlier, on December, 5 of 2022, the National Bank of Ukraine has applied to PrJSC IC “Alfa Insurance” a measure of influence in the form of temporary suspension of the license to provide financial services.
The NBU also noted that these measures were applied in connection with the company’s non-compliance with the requirements of the Regulation on licensing and registration of financial service providers and the conditions of their activities to provide financial services …, namely the requirements for business reputation of financial service providers. The company must eliminate the violations by December 5, 2023.
Later, the Motor (Transport) Insurance Bureau of Ukraine reported on its website that due to the temporary suspension of IC “Alfa Insurance” license for compulsory insurance of civil liability of owners of vehicles (MTPL), it lost the right to enter into new contracts.
As it was reported, IC “Alfa Insurance” was founded in 2000. It offers a universal portfolio of services, including comprehensive programs for protection of business interests and a wide range of insurance products for individuals
Structure of approved state budget income of Ukraine in 2023
Source: Open4Business.com.ua and experts.news
Diamond miner De Beers posted its fifth sales cycle this year with total sales of $450 million, according to Anglo American plc, which controls De Beers.
That was 31 percent below a year ago ($657 million) and 6 percent below the result of the fourth site ($479 million).
This year’s fifth sales cycle took place June 5 through June 20.
“Following the JCK Show and with current global macroeconomic issues continuing to affect customer sentiment, the diamond industry remains cautious ahead of the summer season. Reflecting these factors, demand for De Beers’ diamonds during the fifth selling cycle this year was slightly lower than during the fourth selling cycle,” De Beers CEO Al Cook commented on the results.
De Beers reduced prices for one-carat and larger diamonds by 5-10% at its June sight amid weak demand, Rapaport, the industry news agency, reported in early June.
India’s Economic Times reported in May that De Beers postponed auctions for the fifth and sixth selling cycles this year due to weaker demand from Indian diamond producers. De Beers’ auctions represent about 10 percent of the miner’s diamond sales by value. According to Vipul Shah, chairman of India’s Gems and Jewellery Export Promotion Council (GJEPC), rough diamond prices fell 10 percent due to lower demand in global markets.
Russia’s ALROSA, which controls nearly a third of the rough diamond market and was included in the SDN sanctions list last year, does not publish its sales results since March 2022.
Changes in consolidated budget expenditures in 2014-2022 (%)
Source: Open4Business.com.ua and experts.news
