International consulting company Environmental Resources Management (ERM, the United Kingdom) will provide assistance to the Energy Ministry in the implementation of the program for the transformation of coal regions, the Energy Ministry said on its website on late Thursday. According to the report, ERM, which specializes in drafting sustainable development projects, presented a draft plan for a pilot project for the transformation of coal regions on May 13.
It is noted that in preparation for the project, British and Ukrainian specialists must determine the coal region where the pilot project will be implemented, conduct preliminary consultations with stakeholders and develop a transformation plan directly by late March 2022.
The program, which provides for drafting a project for a fair transformation of one of the coal regions of Ukraine, is funded by the British government, the Energy Ministry said.
As reported, in March this year, the Canadian mining company Black Iron, which is implementing a project to create a new iron ore project in Kryvy Rih (Dnipropetrovsk region), announced the involvement of Environmental Resources Management to conduct an environmental and social impact assessment (ESIA).
ERM was selected to lead this ESIA based on their highly regarded global reputation of expertise in this field that includes several successful projects also conducted in Ukraine.
ERM has over 140 offices globally with headquarter in London.
In the second half of March, the Energy Ministry, headed at that time by Yuriy Vitrenko, withdrew for revision the concept of reforming the coal industry, which envisages, in particular, the merger of promising mines with PJSC Centrenergo and subsequent privatization and liquidation of unprofitable enterprises.
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National bank of Ukraine’s official rates as of 14/05/21
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of may 14
One troy ounce=31.10 grams
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B’ with a stable outlook, the agency said on its website.
Ukraine intends to increase the inflow of foreign direct investment (FDI) by 2025 to $15 billion per year, while at the end of 2020 their outflow amounted to $420 million, and in 2021 the National Bank predicts a recovery in FDI inflows at the level of $3 billion.
Ukraine in 2020 climbed from 80th to 63rd place in the Social Progress Index among 163 countries with score of 73.38 points versus 66.97 in 2019, according to the index data.
The National Bank of Ukraine (NBU) has revised its inflation forecast from 7% to 8% in 2021, expecting inflation to return to the 5% target in H1 2022.
The negative balance of Ukraine’s foreign trade in goods in January-February 2021 decreased by 55.3% compared to January-February 2020, to $ 256.5 million from $ 573.2 million, the State Statistics Service has reported.
The growth of consumer prices in Ukraine in March 2021 accelerated year-over-year to 8.5% from 7.5% in February, from 6.1% in January and from 5% in December 2020.
The total public debt of Ukraine in March 2021 decreased in hryvnia by UAH 38.68 billion, to UAH 2.514 trillion, in dollars – by $ 1.24 billion, to $ 90.17 billion, the Ministry of Finance said.
Prices in the Ukrainian industry in March 2021 increased by 1.6%, while in February – by 7.8%, in January – by 5.2%, the State Statistics Service reported.
Industrial production in Ukraine in March 2021 increased by 2.1% compared to March 2020, which was the first month of the introduction of quarantine due to COVID-19, and the growth adjusted for the effect of calendar days was 2.4%, the State Statistics Service has said.
Ukraine since the beginning of the 2020/2021 marketing year (MY, July-June) and as of April 30, 2021 had exported 38.92 million tonnes of grains and legumes, which is 22.9% less than on the same date of the previous MY.
The transport enterprises of Ukraine in January-March 2021 reduce transportation of goods by 3.6% compared to the same period in 2020, to 135.3 million tonnes.
The volume of construction work performed in Ukraine in January-March 2021 decreased by 12.8% compared to the same period in 2020.
Retail turnover in Ukraine in 2020 increased by 12.7% compared to 2019, which is associated with significant growth in the e-commerce segment and high domestic demand.
Publisher of “Open4Business”, PhD in Economics, Maksim Urakin
