Ukraine, in proportion to its quota in the International Monetary Fund (IMF), could receive more than $2.7 billion in U.S. dollar terms as part of the IMF new initiative on the additional allocation of special drawing rights (SDRs), Governor of the NBU Kyrylo Shevchenko has said.
“We hope that Ukraine will be able to receive additional funding under this initiative… The last time the IMF did a similar allocation in 2009. It was a reaction to the crisis. The IMF initiative for Ukraine could be a positive factor,” he said in an exclusive interview with Interfax-Ukraine.
According to him, a more accurate figure will depend on the exchange rate of the currencies included in the SDR basket.
Shevchenko said that the goal of this new initiative, announced by the IMF, is to provide additional liquidity to the global economic system by supplementing the reserve assets of the Fund’s 190 member countries, and its announced total volume is $650 billion.
The governor of the National Bank said that this allocation will be discussed at the beginning of the spring meeting, however, for the implementation of this initiative, approval is required first by the IMF Executive Board, and then by the Board of Governors.
UDP Renewables, an investment and development company in the field of renewable energy, in a consortium with the Qatari energy company Nebras Power, plans to invest about $ 250 million in “green” energy in Ukraine in 2021-2022, UDP Renewables CEO Serhiy Yevtushenko said.
“he next big step in the life of UDP Renewables and UFuture is the conclusion of an investment agreement with the largest energy company in Qatar, Nebras Power. At the first stage of our strategic partnership, Qataris together with us become shareholders of a large portfolio of operating solar power plants, and then the formation of a consortium for the construction of a whole portfolio of projects in wind energy,” Yevtushenko said on Facebook.
“He noted that the planned volume of investments of the consortium in 2021-2022 could reach $ 250 million, calling it “a good start for a long-term partnership.”
According to him, the signing of contracts by UDP Renewables and Nebras Power during the official visit of Ukrainian President Volodymyr Zelensky to the State of Qatar is proof of the intentions of both states to develop long-term cooperation.
In addition, Yevtushenko noted that with the conclusion of the investment agreement with Nebras Power, the Ukrainian team received another unique experience in structuring and closing a complex international transaction, which had been working on for two years. Everlegal law firm acted as a legal advisor to UDP Renewables.
Ukraine and the World Bank are discussing preparations for the launch of five joint projects, the Finance Ministry said following a video conference between minister Serhiy Marchenko and World Bank Vice President for Europe and Central Asia Anna Bjerde.
“The Finance Minister, together with the World Bank Vice President, discussed plans for cooperation for the near future – preparation for the launch of five new joint projects,” the Finance Ministry said in a release.
According to it, it is planned to submit to the bank board of directors financing for the projects on emergency response to COVID-19 and vaccination in Ukraine, on improvement of higher education in Ukraine for the sake of results, Kyiv urban mobility, on establishment of hybrid systems for production electricity in Ukrhydroenergo and additional financing of the project for access to long-term financing for Ukreximbank.
“At present, the drawdown of the facility within the portfolio of the International Bank for Reconstruction and Development (IBRD) is the highest compared to other international financial institutions – as of January 1, 2021, it amounted to $ 693.55 million, and this is 2.3 times more, than a year earlier,” the ministry said.
In addition, the parties discussed new investment projects for the development of transport infrastructure.
“This year, the implementation of two common road construction projects is coming to an end. That is why we would like to continue successful work in this direction and talk about preparing a new project for Ukravtodor,” the minister said.
National bank of Ukraine’s official rates as of 06/04/21
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of April 06
One troy ounce=31.10 grams
During his visit to Qatar, President of Ukraine Volodymyr Zelensky said that representatives of the financial sector of Qatar are interested in entering the banking market of Ukraine, the presidential press service said.
“Qatar is interested in entering the Ukrainian banking market. We are also interested and offered options. They are choosing,” Zelensky said.
According to Zelensky, “Qatar is interested in investing in the construction of Ukrainian hotels in Kyiv, Kherson and Odesa, as well as in investing in the construction of a ring road around Kyiv.”
“We invited them [Qatar officials] to the infrastructure, because today we are choosing partners with whom to construct the ring road around Kyiv. I would like to construct it fundamental, large, as there are 200 kilometers, including bridges. This is a very expensive work, about $3 billion, so it will be difficult for Ukraine alone to do it. They are also interested in this,” Zelensky said.
The President of Ukraine said, “during the meeting, the discussion was about Qatari investments in the construction of metro and railways in Ukraine.”
Zelensky also said he is expecting specialists from Qatar at the end of the summer to assess Ukrainian cargo and passenger air transportation.
“We are preparing for the opening of our public airlines, our public air carrier. And I communicate with some partner countries, which of them to take with experience and with modern management. In particular, I communicate with Qatar, because Qatar Airways has a very good experience,” the president said.
