Italy will continue to raise funds to restore the city of Bucha in Kyiv region, which suffered from Russian occupiers, Mayor of Bergamo (Italy) Giorgio Gori said during a meeting with Minister of Finance of Ukraine Serhiy Marchenko and Managing Director of the Rothschild international banking group for the CIS region Giovanni Salvetti.
As the Ministry of Finance pointed out in a press release on the website on Wednesday following the meeting, in April 2022, the Italian humanitarian organization Cesvi, headquartered in Bergamo, allocated the first EUR 500 million for the restoration of Bucha, and Gori confirmed its readiness to raise funds in the future.
The mayor of the Italian city noted that the amount of financial support for the restoration of the communal infrastructure and social facilities of Bucha will be increased through charitable contributions from private and public donors, in particular from the municipality of the city of Bergamo.
“Today, the amount of infrastructure damage reaches $104 billion, but the war is not over yet. Now, even after the victory, a difficult path for the restoration of Ukraine awaits us,” the Minister of Finance of Ukraine said in turn, quoted by the ministry’s press service.
Priority areas for the recovery of Bucha are the restoration of destroyed infrastructure, housing, refurbishment of fleets of special equipment, including ambulances, fire engines and public transport, the ministry added.
American Zoom Video Communications for the 2022-2023 academic year will provide free access to Zoom Meetings for Education software.
“This is very important during the war, when all education takes place online. Now some students are defending their theses in the trenches, protecting the state, and teachers are conducting lessons for schoolchildren directly from bomb shelters,” wrote Deputy Prime Minister – Minister of Digital Transformation of Ukraine Mikhail Fedorov on his Telegram channel on Wednesday.
The Ministry of Education and Science, in a letter to educational institutions published on the Osvita.ua portal, said that the extended access of Large Meeting allows participants in the educational process to record meetings, as well as conduct training sessions for 1000 participants at the same time.
Also, according to the Ministry of Education, educational institutions that have applied for advanced features of Google Workspace for Education will receive the corresponding update until August 2022.
The status of a candidate member of the European Union will give impetus to a new trajectory of Ukraine’s GDP growth and a positive signal to investors, Andriy Hunder, President of the American Chamber of Commerce in Ukraine (ACC), believes.
“The EU candidate status will kick-start a new GDP growth trajectory, while at the same time providing huge morale for post-war economic transformation and reform implementation. Such a move sends a positive signal to investors that Ukraine is moving in the right direction,” he said in a comment to the agency. Interfax-Ukraine.
“There is no future for transparent business in Russia. At the same time, companies will see Ukraine as a priority for post-war investment,” Gunder said.
He also expressed confidence that with a positive decision on such a status by the EU members, Ukraine will make every effort to implement all the necessary reforms as soon as possible. In particular, to introduce real and effective judicial reform, the rule of law, fair justice and the establishment of a level playing field for business.
“We will see a comprehensive approach to creating a strong state and a competitive economy,” Andrei Gunder stressed.
“The message on the status of Ukraine’s candidate for membership in the European Union is clear – Ukraine is returning home. Ukraine is returning to the European family of peoples, the values it shares, and, once and for all, is moving away from the yoke of Russia’s cruel suffocation,” he said.
Acceleration of Ukraine’s membership in the European Union by approximating national legislation in the field of competition, customs, healthcare, protection of intellectual property rights, media, etc. to EU legislation is one of the key priorities for member companies of the American Chamber of Commerce in Ukraine for the post-war economic recovery of Ukraine, added the ACC President.
The total amount of indirect (indirect) losses inflicted on the agricultural industry of Ukraine as a result of the full-scale invasion of the Russian Federation amounted to $ 23.3 billion for the period from February 24 to June 9, while the country suffered the largest losses (51%) due to the blockade of its seaports to reduce the cost of agricultural products – $ 11.9 billion.
The relevant data was published on Wednesday in the analytical study “Overview of indirect losses from the war in agriculture in Ukraine”, prepared by the Center for Food and Land Use Studies of the Kyiv School of Economics (KSE Institute) in cooperation with the Ministry of Agrarian Policy and Food of Ukraine.
The organization recalled that the day before it presented a study estimating the direct losses of the agro-industrial complex of Ukraine due to Russian aggression at $4.3 billion. According to the document, direct losses reflect the complete or partial destruction of tangible assets, while costs that producers are forced to bear because of the war.
It is noted that half of the indirect losses of the Ukrainian agro-industrial complex fell on the reduction in the cost of agricultural products due to its accumulation in the country caused by the blockade of Ukrainian seaports by the Russian fleet – $ 11.9 billion. Other factors were the reduction in crop production – $ 9.6 billion (43% of total losses) , an increase in the cost of production factors – $ 0.86 billion (4%), a reduction in the livestock sector – $ 0.68 billion (3%) and a reduction in the yield of perennial crops – $ 0.09 billion (> 1%).
“Due to the blockade of ports by the Russian Navy, Ukraine faced an oversaturation of the domestic market of export-oriented products and an almost fourfold increase in the cost of export logistics. This led to a decrease in prices within the country for the main export-oriented crops by more than 30%,” the statement says. in the KSE study.
As an example, the organization cites food wheat, the price of which in Ukraine on the terms of EXW (self-delivery) during the war with the Russian Federation decreased by 35% – from $297/ton to $192/ton, while over the same price period the world price for it increased post twice.
According to the study, the reduction in the wheat crop in 2022 is expected to be 33% compared to the baseline scenario, which corresponds to $2.03 billion of indirect losses, the reduction in the sunflower crop – 32% ($2.43 billion of indirect losses), barley – 31% ($0 .56 billion), corn – 18% ($1.29 billion). Lost income due to a reduction in the harvest of other crops is estimated at about $3.3 billion.
“With the start of the Russian invasion, Ukrainian agricultural producers also faced higher cost of production factors, including higher prices for fertilizers and fuel. The cost of fertilizers has increased by 37% since the beginning of the Russian invasion, while the price of diesel fuel has increased by about $0.39/liter. Total losses due to increased production costs are estimated at $859 million,” KSE stressed in the study.
According to her, the losses due to the reduction in the yield of perennial crops in 2022 are estimated at $89 million. Considering that it takes an average of five years before the fruiting period of new perennial plantations, indirect losses from the destruction of perennial plantations will amount to $222.4 million over five years.
“Calculation of indirect losses helps to understand not only the scale of the industry’s decline, but also the need for a full resumption of production. A significant part of the lost income was used to cover the costs of the subsequent sowing campaign and the purchase of feed for livestock. Without partial compensation for losses, farmers in the regions most affected by war, will not be able to resume production,” KSE quotes its expert Roman Neiter.
National bank of Ukraine’s official rates as of 22/06/22
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of June 22
One troy ounce=31.10 grams
