KYIV. March 30 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) has provided an uncommitted trade facility of up to EUR 10 million to Credit Agricole Bank to boost support of Ukrainian exporters and importers under its Trade Facility Programme (TFP).
The bank said in a press release that the Trade Facilitation Programme promotes international trade to, from, and within the EBRD countries of operations, including Ukraine.
Through the programme, the bank provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations.
Since its inception in 1999 the TFP has supported over 1,900 trade transactions worth almost €2 billion in Ukraine. 15 Ukrainian banks have been historically engaged in trade transactions under the TFP, covering a variety of export-import contracts between Ukraine and the European Union and even remote countries like Argentina, New Zealand and Vietnam.
The EBRD is the largest international financial investor in Ukraine. As of January 1, 2016, the bank had a total cumulative commitment of EUR 12 billion in 355 projects in the country.
Credit Agricole Bank was founded in 1993. Credit Agricole S.A. on January 1, 2016 owned 99.9961% of the charter capital of Credit Agricole Bank.
The bank ranked 14th among 123 operating banks as of October 1, 2015, in terms of total assets worth UAH 21.882 billion, according to the National Bank of Ukraine.
Source: The Ministry of Finance
KYIV. March 30 (Interfax-Ukraine) – PJSC Ukrhydroenergo plans in 2016 to increase production of electricity by 24.6% compared to 2015, to 8.008 billion kWh.
According to the company’s data, it is planned to increase productive supply in the current year from 6.209 billion kWh to 7.797 billion kWh.
Ukrhydroenergo in 2015 saw net profit rise by 2.3 times compared to 2014, to UAH 1.091 billion, net income by 1.7 times, to UAH 4.469 billion.
Its EBITDA in 2015 grew by 64.7% compared to 2014, to UAH 2.688 billion.
Ukrhydroenergo in 2016 expects a UAH 1.645 billion inflow of credit funds within the second stage of reconstruction of the hydro power plant, including UAH 814.1 million from the International Bank for Reconstruction and Development, UAH 500 million from the EBRD, UAH 300 million from the EIB. The plant also plans in the current year to obtain UAH 30.5 million from the International Bank for Reconstruction and Development for the construction of Kaniv pumped storage hydro station.
Electricity generation by the by nine hydroelectric and pumped storage plants of the company in 2015 fell by 26.2% compared to 2014, to 6.426 billion kWh.
KYIV. March 29 (Interfax-Ukraine) – The European Business Association (EBA) has asked the Ministry of Agricultural Policy and Food to support changes to the instruction on grain accounting and standards for wheat, corn, barley, rapeseeds and soybeans, which permit the formation of export batches of various grain grades stored in elevators.
According to a press release from the EBA, participants in the grain market have problems with the formation of export batches of grain at grain storage facilities and port elevators. These problems occur because of inconsistencies in the outdated state standards and departmental instructions and requirements of today’s market.
“The main problem is the impossibility of forming export consignments of various classes of cereals (mainly wheat) both at granaries and port terminals As a result, a deficit of infrastructure for the simultaneous storage of grains of different classes appears,” reads a statement.
The inability to mix grains leads to unnecessary logistics costs of domestic exporters, the excessive length of grain transshipment in ports and congested transport infrastructure.
KYIV. March 29 (Interfax-Ukraine) – State Enterprise Antonov (Kyiv) at the ninth International Defense Exhibition DefExpo-2016 to be held in Goa (India) on March 28-31 will present the projects of new promising transport aircraft An-132 with a load-carrying capacity of 9.2 tonnes and an An-178 with a capacity of up to 18 tonnes, according to the press service of the company.
According to the report, the promising projects of Antonov could become the basis for a further development of fruitful cooperation between Ukraine and India in the aircraft industry.
The program of a new multi-purpose An-132 aircraft is realized in cooperation with partners from the Kingdom of Saudi Arabia with the participation of the leading companies in the global aviation industry.
“Indian businesses are invited to take part in the creation of this aircraft, while the ministries and departments of the country to become its customers,” the press service said.
KYIV. March 29 (Interfax-Ukraine) – Smart Maritime Group (SMG) of Smart-holding was the ultimate buyer of 9.64% stake in public joint-stock company Chornomorsky Shipbuilding Yard put up for sale by Ukraine’s State Property Fund at an auction on March 29 on the Ukrainian Stock Exchange (Kyiv), the press service of the group has told Interfax-Ukraine.
According to the exchange, the price was decreased from UAH 0.25 per share to UAH 0.03 per share. The cost of the stake decreased from UAH 12.45 million to UAH 1.495 million.
Earlier the fund said that two bids were submitted.
The fund said that the shares in Chornomorsky Shipbuilding Yard have been placed to the list of 34 facilities which privatization failed. The shares could be sold at auctions with 60% and 50% discounts and Dutch auctions.
The fund sold shares in Chernihiv Plant of Radio Equipment (CheZaRa) for UAH 4.67 million and public joint-stock company Bilyky (Chernihiv region) for UAH 1.38 million.
Chornomorsky Shipbuilding Yard is the shipyard with the highest technical potential in Ukraine.
Chornomorsky Shipbuilding Yard, together with Kherson Shipyard, is part of Smart Maritime Group (SMG), the largest shipbuilding holding of Ukraine, was founded in 2009 to manage the maritime assets of Smart-holding.
