Business news from Ukraine

Business news from Ukraine

GGF WILL ISSUE EUR 9 MLN TO NORWEGIAN SCATEC SOLAR FOR BUILDING SOLAR PLANT NEAR KYIV

The Green for Growth Fund (GGF) will provide the Norwegian company Scatec Solar, represented by Scatec Solar ASA, with a loan of EUR 9 million for the construction of a 45 MW solar power plant near Bohuslav (Kyiv region).
According to a press release from GGF, this year this is the second major investment by the Norwegian company in the renewable energy fund in Ukraine. The first one was the project of the 250 MW wind farm Syvash (Kherson region).
In general, the fund’s investments in Ukraine amount to almost EUR63 million. This project will contribute to the country’s strategy to increase the share of renewable energy in its total supply to 25% by 2035, the fund said in a press release.
The Green for Growth Fund finances renewable energy projects aimed at reducing carbon dioxide emissions in 19 countries of South-Eastern Europe, the Caucasus, Ukraine, Moldova, the Middle East and North Africa.

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NEW CONFINEMENT HANDED OVER TO CHORNOBYL NUCLEAR POWER PLANT

Chornobyl nuclear power plant has officially received a new safe confinement (NSC) for subsequent commissioning from Novarka.
According to an Interfax-Ukraine correspondent, the handover ceremony took place at Chornobyl nuclear power plant with the participation of Ukrainian President Volodymyr Zelensky on July 10.
Upon completion of the transfer process, the plant will receive a license and proceed to operating the confinement complex and dismantling unstable structures of the Shelter facility.
“To implement this stage, additional financial resources are needed, first of all, from Ukraine,” the State Agency of Ukraine on Exclusion Zone Management said.
Earlier on July 10 Senior External Affairs Advisor at the European Bank for Reconstruction and Development (EBRD) Anton Usov wrote on Facebook that “22 years after the Chornobyl Shelter Fund was set up, the new safe confinement has now been launched and handed over to Ukraine.”
The international community raised EUR1.5 billion for the project, Usov said. The EBRD invested over EUR700 million. The confinement will serve at least 100 years and help solve the problem of removing the ‘sarcophagus’ over reactor No. 4, he said.
The construction of the NSC over the old Shelter began in 2012 following massive preparations on the site. The project was carried out by Novarka Consortium.
Due to the massive size of the NSC it had to be built in two parts, which were erected and successfully joined in 2015. Inside the NSC arc is a crane for removing the existing old Shelter Structure, or ‘sarcophagus,’ and the remainder of reactor No. 4.
The NSC has a service life of 100 years and cost EUR1.5 billion to build.
Pre-installation work and individual and comprehensive tests on its equipment and technological systems were carried out at the plant’s industrial site in March. In late April, the NSC was put into trial operation. It will run experimentally for no more than a year, after which, depending on its performance, it will receive the relevant license and proceed to full operation and the removal of the old Shelter.

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EUR 25 MLN GRANT TO BE PROVIDED TO UKRAINE TO DEVELOP DIGITAL ECONOMY, E-GOVERNMENT

The European Commission (EC) is preparing an international project of assistance to Ukraine in the amount of EUR 25 million for the development of the digital economy and e-government. The issues were discussed at a meeting of representatives of the EC with advisor to the President of Ukraine Mykhailo Fedorov in Kyiv on Wednesday.
“During the meeting, representatives of the European Commission reported on the preparation of an international project to assist Ukraine in the amount of EUR 25 million for the development of the digital economy and e-government, and also provided their recommendations for the “State in the Smartphone” concept. Key proposals related to the development of citizen identification, the introduction of an effective structure for managing… the implementation of ambitious tasks,” the press service of Ukrainian President Volodymyr Zelensky said.
In turn, Fedorov told about plans and prospects: “For us, we have very clear plans for the year and key performance indicators until 2024. The “State in the Smartphone” for me is when a Ukrainian can solve any life or business situation online in one click and preferably from a smartphone, when our citizen will forever forget what an official looks like and where he is, when Ukrainians will be able to actively participate in the development of the state through a smartphone.”
First Deputy Head of the State e-Government Agency Oleksiy Vyskub told EC representatives about the eBaby project, through which parents of newborns will be able to get 10 online services.
According to the press service, representative of the Support Group for Ukraine (SGUA) in the European Commission Frank Paul, representative of the Delegation of the European Union in Ukraine Martin Klaucke and Coordinator of the Public Administration Reform Sector of the EU Delegation in Ukraine Serhiy Ladny took part in the meeting at the president’s office.

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JULY 11

Official rates of banking metals from national bank as of july 11

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 11/07/19

National bank of ukraine’s official rates as of 11/07/19

Source: National Bank of Ukraine

EBA AGREES WITH PRESIDENT’S POSITION TO USE ELECTRONIC TIMBER ACCOUNTING SYSTEM NATIONWIDE

The European Business Association (EBA) shares the position of the office of the president regarding the introduction of a nationwide system of electronic timber accounting and stresses the need for all timber makers to join this system. “For a more efficient operation of the electronic timber accounting system, it is critically important that all timber makers are connected to it, regardless of the form of subordination,” Yevhen Kuzmenko, the manager of EBA committees, told Interfax-Ukraine.
He noted that the system shows all the data from logging to timber sale or accepting for processing: who is involved in timber logging and on the basis of what documents, the characteristics of timber, as well as to whom and at what price it was sold.
“This system has already been introduced in forestries subordinated to the State Forest Agency. But it does not apply to other forest users, such as state enterprises of the Ministry of Defense, the Ministry of Environment, municipal companies, and others. They, according to various sources, harvest from 17% to 27% of the total volume of timber,” the expert said.
According to him, this situation allows manipulating the origin of wood.

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