The Nordic Environment Finance Corporation (NEFCO) last year provided 12 loans to 11 cities of Ukraine for a total amount of EUR 15.54 million and UAH 60.71 million, eight of which were allocated in the last days of the year, the Ministry of Finance has said on its website.
Kremenchuk (Poltava region) received the largest loans – a EUR 6 million 10-year loan at the rate of EURIBOR 6M + 6.25%, as well as a UAH 13 million five-year loan at 3%.
It is followed by Rivne with EUR4.43 million for eight years at the rate of EURIBOR 6M + 5.85%.
In addition, Lutsk and Sumy at the end of the year received EUR 1.6 million and EUR 1.5 million for 10 years at a rate of 6%, Horishni Plavni received EUR 0.512 million for 10 years at 3%, and Lubny (both in Poltava region) got EUR 1 million at 3%.
NEFCO provided another foreign currency loan to Mykolaiv in July last year – EUR0.5 million for seven years at 6%, while the remaining loans were in hryvnias for five years at a rate of 3%.
In particular, Chuhuyiv (Kharkiv region) received UAH 10.23 million, Zolochiv (Lviv region) – UAH 9.9 million, Vasylkiv – UAH 14.08 million and Brovary (both in Kyiv region) – UAH 13.5 million.
These projects provide a small amount of grant support and co-financing from the municipal authorities.
NEFCO is an international financial organization created in 1990 by the countries of Northern Europe. Its activities are related to the financing of practical activities that promote “green” growth.
According to NEFCO at the beginning of December 2020, the corporation in Ukraine has about 200 projects worth a total of EUR 231 million (both grants and loans, including completed and current projects). Among these projects, 60 were signed with private companies, 138 in the public sector and six were signed with Ukrainian banks.
Exports of cheese from Ukraine in January 2021 in kind increased 24.2% compared to January 2020, to 410 tonnes.
According to the State Customs Service, the export of cheese in monetary terms amounted to $1.43 million last month, which is 19.1% more than in January 2020.
At the same time, the volume of cheese imports to Ukraine in January did not change, remaining at the level of 2,800 tonnes, and in monetary terms increased by 8.3%, to $13.38 million.
Exports of Ukrainian butter in January 2021 decreased 7.9% compared to January 2020, to 684 tonnes, and in monetary terms it fell by 15%, to $2.96 million. Imports of these products decreased 42%, to 585 tonnes ($2.74 million).
According to the ministry, the export of milk and cream (condensed) in January 2021 increased 18.4% compared to January 2020, to 1,930 tonnes, and in monetary terms it grew by 12% to $4.14 million, while imports of this group of goods doubled, to 470 tonnes ($1.14 million).
National bank of Ukraine’s official rates as of 12/02/21
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of February 12
One troy ounce=31.10 grams
Canada’s Black Iron, implementing the investment project to create a new iron ore production facility in Kryvy Rih (Dnipropetrovsk region, Shymanivske iron ore project), has welcomed a new law on state support of investment projects with large investments in Ukraine aimed at attracting investments, lower taxes and provision of priority rights to lease state and communal land plots needed to realize an investment project.
The company said in a Thursday press release that upon a company entering into an investment agreement with Ukraine’s Cabinet of Ministers, support can be provided in the following areas that are relevant for Black Iron to construct its Shymanivske project: lower taxes – exemption from corporate taxes for a period of time and value added tax for all new equipment imported for the project; duty exemption – no import duties need to be paid on new equipment; priority land rights – priority rights to lease state and communal land plots needed to realize the investment project; and stabilization of law – the rights and duties of the investor shall be governed by the Ukrainian laws in effect at the date the investment agreement is executed unless a new law improves the investor’s position.
For Black Iron, this could be a savings of up to nearly $170 million through a combination of reduced upfront tax/duty payments to construct the project and initial corporate tax payments.
Black Iron CEO Matt Simpson said that this is a very positive concrete measure initiated by Ukrainian President Volodymyr Zelensky to attract additional investment to Ukraine that is greatly welcomed by international investors, including Black Iron, and should prove to be very effective.
Misen Enterprises AB (Sweden) received $47.06 million from Ukrgazvydobuvannia (UGV), a subsidiary of Naftogaz Ukrainy, in an arbitration dispute over a stake in the Joint Activity in accordance with a ruling by the Kyiv Court of Appeal made on January 5, 2021.
According to the report of Misen Energy AB (publ) on its website, another UAH 1 million was received by another company under its control – Karpatygaz LLC.
Ukrgazvydobuvannia also paid UAH 236.11 million in nonresident income tax to the state budget.
According to the report, this compensation reflects Misen Enterprises AB’s and LLC Karpatygaz’s share of the replacement costs of the equipment subject to the joint ownership under the Joint Activity agreement.
“However, this compensation does not reflect the going concern value of Misen Energy AB (publ.)’s share at the time the exorbitant subsoil use tax was imposed on the Joint Activity, which led to the termination of the Joint Activity Agreement. Misen Energy AB (publ) and its partially owned subsidiaries reserve all their rights in this respect,” Misen said.
