Business news from Ukraine

Business news from Ukraine

Medical furniture is needed by 79% of hospitals – Zdorovi research

Medical furniture is needed by 79% of Ukrainian healthcare facilities.
Natalia Tulinova, founder of the Zdorovi National Humanitarian Aid Agency, told Interfax-Ukraine that this is evidenced by the results of the Barometer survey.
According to her, in particular, clinics in the de-occupied territories and clinics located in regions affected by flooding after the Kakhovka hydroelectric power station dam was blown up are in particular in need of medical furniture.
“After the terrorist attack on the Kakhovka hydroelectric power plant, the number of hospital patients increased dramatically, so we, together with our partners, are concentrating our efforts to help Kherson’s medical facilities cope with the terrible consequences of military aggression,” Tulinova said.
In particular, the agency provided medical furniture from the Nova Ukraine Foundation to the Gorbachevsky Kherson Regional Infectious Diseases Hospital. Gorbachevsky Regional Infectious Diseases Hospital.
“This medical institution has experienced a several-fold increase in workload as a result of the Kakhovka hydroelectric power plant disaster,” Tulinova said.
According to her, “Kherson reflects the situation in Ukraine itself, and the Zdorovi agency will focus on restoring the destroyed medical infrastructure and updating the healthcare system.”
According to Tulinova, since the beginning of the full-scale invasion, the Zdorovi humanitarian aid agency has been active in the field of charity to support the medical sector. The organization has official memorandums and agreements on cooperation with the Ministry of Health, the Ministry of Internal Affairs, military administrations and hospitals in all regions of Ukraine.
The agency’s partners include, among others, the International Renaissance Foundation, RAZOM for UKRAINE, NOVA Ukraine, Americares, USAID, PHILIPS and other charitable foundations and organizations.

Financing state budget deficit, bln UAH

Financing state budget deficit, bln UAH

Source: Open4Business.com.ua and experts.news

Structure of approved ukrainian state budget expenditures for this year

Structure of approved ukrainian state budget expenditures for this year

Source: Open4Business.com.ua and experts.news

Ukraine and major partners sign statement of intent to restart private insurance market

Ukraine, the European Commission, Switzerland, Norway, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) signed a Statement of Intent to restart the private insurance market to support Ukraine’s sustainability and recovery, Prime Minister Denis Schmigal said
“Rebuilding Ukraine will be the largest recovery project since World War II. We are involving all of our international partners in this process, as well as the private sector. It will be the engine of Ukraine’s reconstruction. Today on the margins of the conference in London, together with the European Commission, Switzerland, Norway, the EIB and the EBRD signed a Statement of Intent to restart the private insurance market to support the sustainability and recovery of Ukraine,” Shmygal wrote in the Telegram channel.
According to him, it will kick-start business insurance against military risks when investing in Ukraine.
“At the expense of donor support will be able to attract Ukrainian and international insurance and reinsurance companies again. Such an important step will help in the return of foreign investment in Ukraine. It means economic recovery, jobs and taxes to support our army,” he concluded.

Australian businessman Forrest to invest $500 mln in Ukraine Development Fund

Australian businessman, head of investment company Tattarang and Fortescue Metals Andrew Forrest will invest $ 500 million in the Development Fund for Ukraine UDF, created together with the investment company BlackRock, said the Ministry of Economy of Ukraine from the Conference on Reconstruction in London.
According to a release on its website, Forrest will be a strategic advisor on the creation of UDF and its investment groups – green strategic metals, green iron, green hydrogen and green electricity – and will serve on an advisory panel for the Ukrainian government.
Forrest, in turn, speaking at the conference, urged other global investors to see Ukraine as an excellent long-term investment opportunity.
It is specified that the idea of UDF was conceived and developed by Forrest and inspired by the World War II Marshall Plan, and back in March 2022 he approached Larry Fink, head of BlackRock, to get advisory support for the creation of the investment vehicle.
His plans to be an anchor investor and invest $500 million in a green energy fund first became publicly known in November 2022.
In May 2023, the Ministry of Economy of Ukraine announced the appointment of BlackRock FMA as a consultant on the design of the Ukraine Development Fund.
“We should not seek to rebuild what Ukraine was with its outdated Soviet-era infrastructure…We will build a future that is digital, green, fair and free of corruption,” Forrest said at the conference.
The press release notes that Forrests Minderoo Foundation has already contributed millions of dollars to help the Ukrainian people, including funding the first humanitarian grain shipment from Ukraine in August and providing critical storage facilities for farmers whose crops would otherwise have died. In addition, 180 generators were provided to provide power.

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EBRD and 19 development finance institutions sign Memorandum of Understanding on Investment in Ukraine

The European Bank for Reconstruction and Development (EBRD) and 19 financial development institutions (DFIs) signed a Memorandum of Understanding at the Conference on Reconstruction of Ukraine in London to promote joint investments in the private sector of the Ukrainian economy.
“The signing of this memorandum … was the next step in the implementation of the agreement between the EBRD and the G7 DFIs to create a common platform for investment in Ukraine, which was announced at the G7 meeting in Tokyo last month,” the bank said in a press release.
It is noted that the main goal of creating the joint platform between the EBRD and DFI is to promote co-financing by strengthening cooperation and dialogue between partners in the context of providing assistance for reconstruction of Ukraine.
It is noted that the priority of investment initiatives will be given to the private sector of Ukraine’s economy.
“Ukraine’s financial needs during the recovery phase will be very significant, and therefore will require the combined efforts of financial institutions. To maximize the efficiency and effectiveness of their activities, Ukraine’s partners must ensure careful coordination among themselves. The private sector will play an extremely important role in the recovery of the Ukrainian economy,” stressed the EBRD.
The Bank points out that it is ready to work together with the DFI to improve the efficiency and quality of assistance to Ukraine and neighboring countries affected by Russia’s military aggression.
It is specified that the memorandum was signed by British International Investment, Cassa Depositi e Prestiti, DEG (Deutsche Investitions- und Entwicklungsgesellschaft), Development Finance Institute Canada (DFIC), Japan Bank for International Cooperation, Japan International Cooperation Agency, Proparco, USA International Development Finance Corporation, Belgium Investment Company for developing countries.
Also in this list are Compañía Española de financiación del desarrollo (Cofides), Finnfund, Investment Fund for Developing Countries, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden, Norfund, Oesterreichische Entwicklungsbank, Sociedade para o Financiamento do desenvolvimento, instituicao financeira de credito, Swiss Investment Fund for Developing Markets and Swedfund international.

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