Business news from Ukraine

Business news from Ukraine

Railway section near Medyka in Poland is open for traffic

Movement of trains on the railway station Medyka (Peremyshl direction), stopped due to the derailment of a freight train in Poland, resumed, reports the press service of “Ukrzaliznytsia”.

“The section near Medyka (Poland) is open for traffic, the train №74 “Peremyshl – Kharkiv” has just departed with a delay of 4 hours 30 minutes. Passengers of flight No. 31 “Zaporizhzhya – Peremyshl” are already waiting for buses for transfer to Krakow,” Ukrzaliznytsia’s Telegram channel said on Wednesday evening.

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Ukraine attracts EUR150 mln grant from EU

Ukraine on Wednesday received EUR 150 million in non-repayable financial assistance from the EU as part of a bilateral agreement to finance the Support for Ukraine’s Early Recovery program (State Building and Resilience Contract), the Finance Ministry said.

“Grant funding will help ensure priority measures to restore critical facilities affected by Russia’s armed aggression, including transport infrastructure, utilities and services, social infrastructure and residential areas,” Minister Sergii Marchenko said in a release.

It is specified that the second tranche of EUR 100 million is expected in the first quarter of 2024. The funds will be used to finance both recovery activities and support small farms and other agricultural businesses.

The day before, Marchenko said that since the beginning of this year, Ukraine has managed to attract more than $39 billion in external financing, compared to $32.1 billion for the entire last year, and by the end of the year this amount will reach about $42.3 billion. In particular, the EU is expected to receive EUR 1.5 billion of the last tranche of macro-financial assistance this year.

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Dobrobut Medical Network to help wounded and military receive free surgical and rehabilitation care

The Dobrobut Medical Network, with the support of the Direct Relief International Foundation, has updated its program of free surgical care for the wounded and rehabilitation of the military.

According to Dobrobut in its press release, the program will run from December 18, 2023, to May 15, 2024, at the Dobrobut Medical and Diagnostic Center in Kyiv.

Military and civilians with injuries and traumas sustained as a result of hostilities can receive surgical care. In addition, children of military personnel will be able to receive scheduled and urgent surgical care.

The military also has a program of free physical rehabilitation for injuries sustained during hostilities.

Applications for participation in the program will be reviewed by a special medical commission.

“Dobrobut has been cooperating with Direct Relief since April 2022. Thanks to this, more than 2.3 thousand patients have received free medical care at the Dobrobut Diagnostic and Treatment Center. With the support of the American partner, Dobrobut surgeons have performed nearly 1,000 surgeries.

“Dobrobut is one of the largest private medical networks in Ukraine. The company’s portfolio includes 15 medical centers in Kyiv and Kyiv region, an emergency service, dentistry and pharmacies. The medical centers of the network provide services for children and adults in more than 75 medical areas. Every year, Dobrobut specialists perform more than 7,000 surgeries. The network employs more than 2,800 people.

Thanks to cooperation with international charities such as Direct Relief International, Children of War Foundation, International Medical Corps and University of Miami Global Institute, as well as the work of the Dobrobut Foundation charity fund, the network’s clinics continued to operate even during the hostilities and provided a significant part of medical services free of charge for months. Since the first days of the war, the Dobrobut Medical and Diagnostic Center in Kyiv has been providing emergency medical care to Ukraine’s defenders and people injured in the fighting 24/7 free of charge. Thanks to the activities of Direct Relief International and the Dobrobut Foundation, the Dobrobut Medical and Diagnostic Center provides free medical care to wounded soldiers and people in difficult situations due to the hostilities.

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Exports of selected agricultural products, mln tons

Exports of selected agricultural products, mln tons

Source: Open4Business.com.ua and experts.news

ADONIS Medical Network estimates level of security of its IT structure at 97%

ADONIS Clinic estimates the level of security of its IT structure at almost 97%, using the services of various mobile operators and Internet providers to ensure wide availability and stability of IT services.

“The security of ADONIS clinic’s IT structure is 96.99%. To guarantee a high level of protection, we are constantly improving our equipment through the processes of updating and modernization. This allows us to effectively counter modern cyber threats and maintain the confidentiality and integrity of our patients’ data,” the clinic told Interfax-Ukraine.

Commenting on the dependence of IT services on the work of mobile operators and Internet providers, ADONIS noted that “the clinic uses the services of various mobile operators and Internet providers to ensure wide availability and resilience of IT services.”

“Partial dependence on Internet providers is necessary to ensure the proper functioning of our network infrastructures,” the clinic said.

ADONIS emphasized that the clinic’s work was affected by the recent cyberattack on mobile operator Kyivstar, but ADONIS “quickly identified the problems and took the necessary measures.”

“We quickly and efficiently switched to other networks, ensuring the continuity of our communications and IT services. This experience has emphasized our ability to effectively manage contingencies and ensure the smooth operation of our IT systems in the face of cyber threats,” ADONIS emphasized.

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Ministry of Finance expects another $3.3 bln in external financing by end of year

Thanks to coordinated cooperation with international partners, Ukraine has managed to attract more than $39 billion in external financing since the beginning of 2023, compared to $32.1 billion for the entire last year, Ukrainian Finance Minister Sergii Marchenko said.

“By the end of this year, donor assistance will reach about $42.3 billion,” he was quoted as saying in a release from the Finance Ministry on Wednesday after a meeting the day before with the heads of central banks of the G7 countries, the leadership of the European Union, the IMF and the World Bank.

Marchenko also noted that Ukraine’s need for external financing in 2024 was reduced from the initial $41 billion to $37.3 billion due to measures to maximize state budget revenues, activate the domestic debt market, and reduce all capital expenditures of the state budget.

The Minister of Finance emphasized that in 2024, the priorities for financing are the military campaign and social support, the former to be provided exclusively at the expense of domestic budget revenues, and Ukraine is counting on the help of partners to finance the latter.

The desired amount of external financing in 2024, including grants, mentioned by Marchenko, was confirmed in the materials of the International Monetary Fund (IMF) based on the results of the second review of the EFF program. “Support from official donors will remain the main source of financing the deficit next year,” the Fund emphasized.

He noted that net financing through the placement of domestic government bonds, although significantly lower, will also remain an important source of financing, amounting to $3.8 billion under the baseline scenario.

“Net domestic market issuance and the use of unencumbered deposits also serve as an important shock absorber and are easier to increase quickly compared to external financing. However, the risks associated with this financing plan are significant, and it is important that guaranteed external financing is provided in a timely manner,” the IMF said.

According to the materials of the second revision of the EFF program, the United States is expected to receive $8.5 billion, Japan – $2 billion, the United Kingdom – $1 billion, and another $20.4 billion from the EU, Canada and Japan.

Earlier, Marchenko clarified that Ukraine expects to receive EUR18 billion from the EU in 2024 as part of the Ukraine Facility, which is being discussed and is expected to total EUR50 billion for 2024-2027.

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