The International Finance Corporation (IFC), a member of the World Bank Group, has decided to provide a EUR 70 million loan for the construction of a 120 MW wind farm in the Odesa region with a total cost of EUR 231 million.
“IFC is supporting the project during the pre-investment phase to enhance its financial attractiveness, particularly with regard to electricity market analysis and power purchase agreements,” the corporation stated on its website.
The project is expected to receive support from partners of the Action Program for Enhancing Ukraine’s Economic Resilience (“ERA Program”), including the Norwegian Agency for Development Cooperation (NORAD), the Government of the French Republic, and the European Commission under the Ukraine Investment Facility (EC-UIF), as noted in the “Blended Finance” section
According to the corporation, the project is being implemented by a specialized company registered in Ukraine.
At the same time, according to the IFC, the project is majority-owned by the German company Notus Energy GmbH, which operates more than 1.6 GW of wind power capacity worldwide. The project’s shareholder structure also includes minority shareholders in the form of Horizon Capital, a private investment firm operating in Ukraine and Moldova, through its recently established Catalyst Fund and Green for Growth Fund.
As explained by the IFC, the additional benefits of the corporation’s participation in this project are both financial and non-financial in nature. In particular, the financial value stems from the financing structure, as the IFC is providing a loan with a maturity of up to 17 years. The IFC will also help attract additional financing for the project.
“The non-financial value lies in reducing non-commercial risks, as the IFC’s presence is expected to boost investor confidence in a challenging market,” the corporation noted.
IFC is also providing technical support to help the project enhance its financial attractiveness, particularly in terms of market analysis and power purchase agreements.
Horizon Capital manages six private equity funds (with over 40 institutional investors) totaling $1.6 billion in assets, including WNISEF ($150 million), the Emerging Europe Growth Fund (EEGF, $132 million), EEGF II ($370 million), EEGF III ($200 million), HCGF II ($258.3 million), and HCGF IV ($350 million). The funds have invested in 191 companies, which employ over 80,000 people in Ukraine and Moldova.
As previously reported, on June 17, the European Bank for Reconstruction and Development (EBRD) also approved a decision to provide a loan of up to EUR 65 million for the construction of the aforementioned 120 MW wind farm in the Odesa region.
IFC, Notus Energy, ODESA REGION, RENEWABLE ENERGY, WIND FARM
Ukrainian high school students won five medals at the European Physics Olympiad (EuPhO 2026), which took place June 12–16 in Gothenburg, Sweden.
According to the official results of the Olympiad, the Ukrainian team won three gold, one silver, and one bronze medal.
The gold medals were won by Sviatoslav Lavreniuk, Nazarii Vrashchuk, and Mykyta Voznyi. Lavreniuk scored 36.90 points and took second place in the overall individual standings of the Olympiad. Vraschuk, with a score of 30.10 points, took tenth place, while Voznyi, with 29.60 points, took eleventh.
Oleg Kurnitsky received a silver medal, scoring 17.20 points and placing 50th. Mykhailo Rubtsov won a bronze medal with a score of 12.50 points and a 101st-place finish in the overall standings.
The overall winner of EuPhO 2026 was Bryant Yu of the United States, who scored 38.60 points. Third place in the overall standings went to Haoyi Li of China with a score of 34.60 points.
A total of 199 students from 41 countries participated in the competition. At the conclusion of the Olympiad, 23 gold, 37 silver, and 51 bronze medals were awarded, along with 34 honorable mentions.
The official team rankings were not published in the final results of EuPhO 2026. However, China led all countries in the number of gold medals, with its representatives winning five gold medals.
The European Physics Olympiad is held for high school students. Each country may send a team of up to five participants. In 2026, the Olympiad took place in Gothenburg with the participation of Chalmers University of Technology and the University of Gothenburg.
The Northern Mining and Processing Plant (Northern GZK, Kryvyi Rih, Dnipropetrovsk Oblast), part of the Metinvest Group, has invested 3.5 million UAH in the modernization of pumping equipment, which is expected to pay for itself within a year.
According to the company, as part of its 2025 investment program, a new pump unit was installed at Northern GOK’s Pershotravnevy open-pit mine. Its operation over the past nine months has already yielded significant economic benefits through energy savings.
It is noted that in open-pit iron ore mining operations, pumping equipment is used to remove groundwater from the bottom of the quarry, which prevents flooding, strengthens the slope walls, and ensures safe mining operations. A pumping station is located at the lowest point of the Pershotravnevy Quarry, and its equipment performs these functions.
Last year, due to operational needs to deepen the quarry to a lower level, it became necessary to replace the pumping equipment with a more powerful system. At that time, the station was operating a CNS 300-560 pump. According to its technical specifications, its capacity was 300 cubic meters of water per hour, and it could deliver water to a head of 560 meters, with subsequent transportation to the technical water supply and slurry management facility.
To increase the technical capabilities of the pumping equipment for dewatering the lower ore-bearing horizons, an investment project was approved to purchase a new, more powerful pump. Last fall, the NSSH 315-630 unit was put into operation.
The new pump’s productivity is higher due to its increased flow capacity—up to 315 cubic meters of water per hour—and it is capable of pumping water to the upper horizons at a head of up to 630 m. At the same time, the new equipment’s energy consumption is equal to that of the previous unit. Both units are equipped with 800 kW motors.
“Last year, the company invested 3.5 million UAH in the modernization of the pumping equipment at the Pershotravnevy Quarry. Current energy-saving estimates show that over a full year of operation of the NSSH 315-630 pump, we will achieve an economic benefit that will fully recoup the investment and continue to generate a profit for the plant,” explained Maksym Danilov, head of the Pershotravnevy Quarry at Pivnich GZK.
Pivnichny GZK is part of the Metinvest Group, whose main shareholders are PJSC “System Capital Management” (SCM, Donetsk) (71.24%) and the “Smart-Holding” group of companies (23.76%). The management company of the Metinvest Group is Metinvest Holding LLC.
The political crisis in Romania has deepened after parliament failed to approve the government proposed by Prime Minister Adrian Vestea. The cabinet received 189 votes in favor, falling short of the required minimum of 233, which prevented it from being sworn in and beginning its work.
Following the failed vote, Romanian President Nicușor Dan is expected to hold a new round of consultations with the parties represented in parliament and propose a new candidate for the position of prime minister. This could be either a new politician or a candidate previously discussed, provided the parties can agree on a new majority configuration.
The situation is complicated by the fact that this is the second consecutive failed attempt to form a new government. Previously, candidate Yevhen Tomak withdrew his nomination after failing to secure sufficient support in parliament. Now, the failure of Veshta’s cabinet increases the risk of a protracted political deadlock.
According to Romanian procedures, if two attempts to form a government within the established timeframe do not result in the cabinet’s approval, the president may have grounds to dissolve parliament and call for early elections. Formally, such a scenario is becoming increasingly likely, but politically it remains risky for pro-European parties, as the crisis strengthens the positions of right-wing populist and Euroskeptic forces.
Prolonged political instability in Bucharest could have consequences not only for domestic economic policy but also for regional stability.
Experts at the Experts Club think tank note that the current crisis in Romania reflects a broader trend in Central and Eastern European countries—the fragmentation of party systems, growing distrust of traditional political forces, and the rise of parties that base their campaigns on criticism of Brussels, migration policy, support for Ukraine, and fiscal discipline.
For Ukraine, the situation in Romania is of particular importance. Bucharest remains an important partner for Kyiv in the areas of security, transportation infrastructure, and European integration. Significant volumes of Ukrainian trade pass through Romania, and the Danube region has taken on strategic importance for Ukrainian exports since the start of the full-scale war.
According to an assessment by Experts Club, the baseline scenario for now remains that early elections will not be held, but rather that political parties will attempt to agree on a new, possibly more limited or technical government. The reason is simple: early elections could strengthen parties that are already benefiting from the crisis of confidence in traditional political elites.
At the same time, every new failed attempt to form a government raises the cost of compromise. The longer Romania remains without a fully functioning government, the more difficult it will be to make decisions regarding the budget, reforms, relations with the EU, and economic stabilization.
Romania is already facing a high budget deficit, inflationary pressures, and the need to maintain access to European funding. Under these conditions, a political crisis could increase uncertainty for investors and slow down the implementation of reforms necessary to support macroeconomic stability.
He noted that Romania is entering a period of heightened political turbulence, where the issue of forming a government is directly linked to exchange rate stability, economic policy, and the country’s role in the region.
early elections, EXPERTS CLUB, GOVERNMENT, RISK, ROMANIA, voting
The public organization “Union of Rectors of Higher Education Institutions of Ukraine” has appealed to the Ministry of Education and Science to reconsider the minimum admission score for a number of majors in 2026.
According to the appeal to Minister of Education and Science Oksen Lisovyi, the Union of Rectors proposes lowering the minimum admission score from 150 to 130 for admission to the majors “International Relations,” “Public Management and Administration,” “Law,” “International Law,” “Dentistry,” “Medicine,” “Pediatrics,” “Medical Psychology,” as well as for the specialization “International Economic Relations” within the major “Economics and International Economic Relations.”
For the “Pharmacy” major, the organization proposes setting the minimum admission score at 140.
The Union of Rectors explains the need to revise the requirements by citing the difficult conditions under which graduates took the national multi-subject test in 2026. A significant portion of the testing took place amid air raid alerts, rocket attacks, power outages, and the effects of prolonged distance learning.
The statement notes that low NMT scores are often linked not only to the level of preparation among applicants but also to high psychological strain, stress, and the instability of the educational process amid a full-scale war.
Representatives of the Union of Rectors also point to the risk of an increased exodus of Ukrainian applicants abroad if high cutoff scores are maintained for certain majors. According to the organization, the proposed changes will allow a greater number of 2026 graduates to continue their studies in Ukraine and will help preserve the potential of the Ukrainian higher education system.
As previously reported, the issue of the minimum admission score has also been raised in the context of the labor shortage in the pharmaceutical industry. Participants in the roundtable discussion “Labor Shortage in the Pharmaceutical Industry: Challenges, Regulatory Solutions, and the Role of Public Policy,” organized by the Ukrainian Pharmacists Association, noted that requiring applicants to pharmaceutical programs to score more than 150 points could exacerbate the labor shortage in the industry.
The public organization “Union of Rectors of Higher Education Institutions of Ukraine” is a professional association of Ukrainian university leaders. The organization serves as a platform for coordinating the positions of higher education institutions and discussing issues related to educational policy, legislation, funding, educational quality, and international cooperation. The organization is headed by Petro Kulikov. He previously served as president of the Kyiv National University of Construction and Architecture and participates in public discussions on reforms in higher education.
Ministry of Education and Science, Union of Rectors of Ukraine
Ukraine should consider education as a separate export sector capable of bringing in foreign currency revenues, forming international ties and strengthening the country’s influence on the global market, believes Golda Vynogradska, president of the Public Union “International Movement ‘PRORYV’”, Doctor of Philosophy in the field of education.
In a blog on the website of the Interfax-Ukraine agency, she noted that in public discussion about new drivers of the economy, the agricultural sector, metallurgy, IT, the defense industry, energy and logistics are most often mentioned, while educational exports remain almost outside attention.
According to Vynogradska, in many countries education has long become not only a social sphere, but also a full-fledged export of services, an instrument of soft power and part of economic policy. This approach is used by the United Kingdom, Canada, Australia, France, Türkiye and China, forming through international education networks of future partners, managers, entrepreneurs, doctors, engineers and opinion leaders.
Ukraine also has a basis for developing this area: hundreds of higher education institutions, strong scientific schools, experience in training foreign students, teaching potential and the international reputation of Ukrainian specialists.
Before the full-scale war, Ukraine was a notable player in the international education market. In 2019-2021, about 76-80 thousand foreign students from more than 150 countries studied at Ukrainian higher education institutions. The largest centers were Kharkiv, Kyiv, Odesa, Dnipro and Zaporizhzhia, while among the key countries of origin of students were India, Morocco, Nigeria, Türkiye, Azerbaijan, Egypt, Turkmenistan and China.
After 2022, the number of foreign students decreased significantly due to the war, security risks, the closure of air traffic and the complication of entry procedures. In 2023, about 51.7 thousand foreign students remained in Ukraine, which is almost 30 thousand fewer than before the full-scale invasion. As of the beginning of 2026, more than 21 thousand foreign students from 127 countries were studying at Ukrainian universities, and in 2025 about 5.5 thousand new students were enrolled, which slightly exceeded the 2024 figure.
Vynogradska notes that these data indicate not only losses, but also the preservation of potential. In her opinion, demand for Ukrainian education has not disappeared completely even under conditions of war, but the model of attracting foreign students has largely remained pre-war.
The expert considers the outdated architecture of access to Ukrainian education to be the key limitation. Traditionally, the system was built around the physical arrival of a student in Ukraine even before the start of full-fledged studies. In peacetime, such a model worked, but under current conditions it has become one of the main barriers.
“The full-scale war did not destroy the international education market for Ukraine, but revealed the weak point of the old model: ‘first come to Ukraine, and then enroll,’” Vynogradska noted.
In her opinion, a student of the 21st century expects digital admission, remote communication with the university, transparent verification of documents, flexible formats of study, clear procedures and service that meets international standards.
Among possible steps for the development of educational exports, Vynogradska names the digitalization of foreign students’ admission, transferring primary procedures online, remote verification of documents, the development of the “study online first, arrive later” model, the definition of priority markets and the development of English-language programs.
Promising areas for Ukraine may include medicine, engineering, IT, agricultural technologies, infrastructure recovery, energy, cybersecurity, defense technologies, crisis management, public administration and post-war reconstruction.
According to the author’s assessment, educational exports have not yet become the same state priority as attracting investment, supporting the export of goods or promoting Ukrainian technology companies abroad. At the same time, a separate university cannot independently form the national brand of Ukrainian education, therefore the development of this area requires coordination between the state, universities, business and international partners.
Vynogradska believes that every foreign student is not only tuition fees, but also a future specialist, a potential partner of Ukrainian business, a doctor, an engineer, an official, a scientist or an entrepreneur who can maintain a connection with Ukraine for decades.
“Ukraine competes for investment, export contracts, international assistance, technologies and markets. It is time to begin competing just as seriously for students as well,” she emphasized.
Golda Vynogradska is president of the Public Union “International Movement ‘PRORYV’”, Doctor of Philosophy in the field of education, expert in public-private partnership, innovation and human capital development, adviser to the Minister of Education and Science of Ukraine in 2016-2021.
