Business news from Ukraine

INTERNATIONAL FINANCIAL AID FOR UKRAINE SOARS TO $40 BLN – POROSHENKO

Ukraine’s President Petro Poroshenko has said that the international financial aid for Ukraine will total $40 billion.

“With aid from the World Bank, international financial institutions, the United States, the European Union, Canada, Australia, Japan, Switzerland, and Turkey, the total sum, including funds from the IMF (International Monday Fund) will amount to $40 billion,” Poroshenko said. He recalled that recently the IMF has approved a new $17.5 billion aid program for Ukraine.

“We have already held the first stage of reforms, and made a decision about the legislation to ensure implementation of our memorandum with the IMF, and I want to say that as a result of very difficult talks with the IMF we managed to defend our key positions on support, including social protection, and to prevent our poorest social groups from being increasingly worse off,” the Ukrainian president said.

EU, UKRAINE SELECT 10 PRIORITY REFORMS

The European Union and Ukraine agreed the updated Association Agenda with 10 Ukrainian priority reforms at the EU-Ukraine Association Council.

“Being agreed between the Ukrainian Government and the EU and its Member States, this document constitutes the main political tool for the implementation and monitoring of the Association Agreement,” the European Council’s press service reported.

The Association Agenda outlines ten short-term reform actions that Ukraine should address as a matter of priority in the areas of constitution, elections, judiciary, anti-corruption, public administration, energy, deregulation, public procurement, taxation and external audit.

UKRAINE MUST FULFILL ALL CONDITIONS FOR JOINING EU BY 2020

By 2020, Ukraine must fulfill all conditions for joining the EU, Chairman of the Parliament (Verkhovna Rada) of Ukraine Volodymyr Hroisman has said.

“Our task is to do our best so that by 2020 we could fulfill all the conditions for joining the EU,” Hroisman said in an interview with “Das Parlament!” weekly (German).

Chairman of Ukrainian parliament noted that “accumulation of reforms that Ukraine needs to conduct today is the result of failures of previous years.” He noted that “some reforms will be painful,” but Ukrainian citizens would treat them with understanding.

“I believe Ukrainians will show understanding of the necessity of the reforms,” Hroisman said.

According to him, Ukraine’s facing many tasks to fulfill.

UKRAINE SIGNS AGREEMENT WITH EU ON PARTICIPATION IN HORIZON 2020 PROGRAM

Ukraine and the European Union have signed an agreement on Ukraine’s participation in the Horizon 2020 research and innovation program.

“I am very pleased to welcome Ukraine to our EU research funding program Horizon 2020… Ukraine will now have access to the full spectrum of activities funded under Horizon 2020, helping it to spur its economy. I hope Ukraine will make the most of these opportunities,” EU Commissioner for Research, Science and Innovation Commissioner Carlos Moedas said at a press conference. He also said that Ukrainian entrepreneurs will be able to receive grants provided by the European Research Council and get access to the program’s instruments designed for small and medium seized businesses.

The total amount of Ukraine’s contribution for participation in the program will be EUR 35.5 million until 2020. Horizon 2020 is the largest EU research and innovation program which is designed for seven years (2014 to 2020), and is aimed at the support of research and innovative activities.

UKRAINE CONSTITUTIONAL COMMISSION TO INCLUDE 59 UKRAINIANS, 13 FOREIGN EXPERTS

A constitutional commission being formed in Ukraine will comprise of 72 members, among them 13 experts from international organizations, says President Petro Poroshenko’s decree posted on his website. Constitutional amendments are expected to strengthen the role of territorial communities and lift parliamentary and judicial immunity, the decree says.

“I am convinced that following local elections and decentralization, the territorial communities’ effectiveness and responsibility will increase,” Poroshenko said.

The decree supports international organizations’ proposal to involve 13 of their experts and monitors in the constitutional commission’s work.

The constitutional commission may include, if their consent is secured, chairman of the UN Human Rights Monitoring Mission in Ukraine Armen Harutyunyan, chief of the judiciary administering advisory unit of the EU advisory mission for civil security reform Robert Boer and Team Leader of the EU Project “Support to Justice Sector Reforms in Ukraine” Virgilijus Valancius, as well as Iryna Ulasiuk, a legal advisor to the director of the OSCE’s Office for National Minorities; Oleksandr Vodiankov, national legal advisor and head of the rule of law department of the OSCE project coordinator in Ukraine, Alain Delcamp, an expert of the Congress of Regional and Local Authorities of the Council of Europe; Special Advisor of the Council of Europe Secretary General for Ukraine Christos Giakoumopoulos, member of the Venice Commission Hanna Suchocka and head of the political department of the European Union’s delegation to Ukraine Hannes Schreiber.