Kredobank (Lviv) has signed an agreement with the U.S. Development Finance Corporation (DFC) to raise $40 million in guarantees for loans to small and medium-sized businesses in Ukraine.
According to the bank’s statement on Friday, the signing took place in Washington during the annual meetings of the International Monetary Fund and the World Bank Group, the guarantee will cover 80% of the loan amount, meaning that the agreement will allow Kredobank to issue $50 million in business loans.
It is specified that working capital loans, investment loans and leasing under the DFC guarantee will be available to companies operating throughout the government-controlled territory of Ukraine, with no more than 300 employees and no more than $15 million. The maximum loan amount for a client is $1.5 million in equivalent. As part of the program, at least 25% of all loans under DFC’s guarantees must be granted to agricultural enterprises.
Jakub Karnowski, First Deputy Chairman of the Management Board of Kredobank, noted that thanks to the risk-sharing programs that have been operating in the bank for more than two years, he managed to provide Ukrainian entrepreneurs with a total of more than EUR 155 million in loan financing.
Kredobank was founded in 1990. Its sole shareholder is the largest bank in Poland – PKO Bank Polski S.A. According to the National Bank of Ukraine, as of June 1, 2024, Kredobank ranked 14th (UAH 57.93 billion) among 63 banks in the country in terms of assets.
Geographical structure of Ukraine’s foreign trade (surplus) in Jan-July 2024, thousand USD
Open4Business.com.ua
Chairman of the Central Election Commission of Georgia Giorgi Kalandarishvili announced the results of Saturday’s parliamentary elections.
According to him, data from 3100 polling stations out of the total number of 3111 has been processed.
He said that the ruling Georgian Dream party won the elections with 54.08% support of the voters. It was followed by four parties that broke the 5% (passing threshold): “Coalition for Change” – 10.92%, ‘United National Movement’ – 10.12%, ‘Strong Georgia’ – 8.72% and ‘For Georgia’ – 7.76%.
The Swedish government has decided to provide a new humanitarian aid package of SEK110 million ($10.4 million) to Ukraine, which will be used to meet increased needs ahead of the winter period, the Swedish government website said Sunday.
“Russia has targeted civilian infrastructure and deprived Ukraine of much of its heat and electricity supply. Of course, the colder it gets, the more serious the consequences. Therefore, a significant part of the population is experiencing difficulties in heating their homes and cooking. That is why the government has decided to allocate 110 million crowns to a number of humanitarian organizations in Ukraine,” said Benjamin Dusa, Minister of Foreign Development and Foreign Trade.
The humanitarian package is distributed among four organizations. The Ukrainian Red Cross received SEK50 million; the support focuses on, among other things, guaranteed access to heat and electricity, distribution of food, hygiene products, medicines and water. UNHCR received SEK20 million; Sweden will contribute to help internally displaced persons prepare and protect themselves before and during the coming winter. UNDP received SEK30 million for demining. UNFPA will receive SEK10 million to address women’s sexual and reproductive health needs, prevent sexual and gender-based violence and support survivors of violence.
Earlier, on October 17, the Nordic and Baltic countries presented a new support package to Ukraine to repair damaged and replace destroyed energy systems with new ones before winter. Sweden’s contribution amounted to SEK320 million ($30 million).
“This support package is important to support the Ukrainian energy sector and help keep Ukrainian society functioning and Ukrainian homes warm,” Dusa said.
According to the government, Sweden has previously allocated a total of SEK57.4 billion ($5.4 billion) in support for Ukraine since Russia’s full-scale invasion of Ukraine in February 2022: humanitarian, military and financial support, as well as support for reconstruction and reform work. Including the new support packages, Sweden’s total contribution will amount to more than SEK57.8 billion.
Including in 2024 alone, the Swedish government has decided to allocate a total of SEK1.8 billion for additional support for the Ukrainian energy sector. After two aid packages in October, this amount exceeded SEK2.2bn (over $210m).
Ukrainian athlete and high jumper Yaroslava Maguchikh has been officially recognized as the best athlete in Europe in 2024. She received her award at the Golden Tracks ceremony held in Skopje (North Macedonia), reports Suspilne Sport.
It is noted that in the 2024 season, Maguchikh set a new world record in the discipline – 2.10 meters, and added to it her debut Olympic gold, the title of European champion and the third consecutive Diamond League title.
The top three in the women’s category also included runners Femke Bohl of the Netherlands and Great Britain’s Keeley Hodgkinson.
“This was the most successful season for me. Many dreams came true: a world record and Olympic gold for Ukraine,” Maguchikh said during the ceremony.
Based on the results of her historic season, Maguchikh is also in the running for the world’s best athlete in non-running disciplines: World Athletics will announce the three finalists in early November.
On October 27, Ukraine switches to winter time.
“At exactly 4:00 a.m., the clock hands have to make one circle back. Modern electronic devices will do this automatically, while mechanical clocks need to be set manually. Thus, it will show 3.00,” the Government online telegram channel said.
As reported, on July 16, the Verkhovna Rada adopted Bill No. 4201 to cancel the transition from winter to summer time in Ukraine from 2025, but it has not been signed by the President of Ukraine.
