Ukraine has received the eighth tranche of macro-financial assistance in the amount of EUR 1.5 billion from the European Union, Prime Minister Denys Shmyhal said.
“Today, Ukraine has received the eighth tranche of macro-financial assistance in the amount of €1.5 billion from the European Union. In total, the EU’s budget support for Ukraine in 2023 already amounts to €13.5 billion,” Shmyhal wrote in X on Friday.
According to the prime minister, the EU’s total support for Ukraine has reached approximately €70 billion since Russia’s full-scale invasion.
On October 12, 2023, the ninth Kyiv International Economic Forum, an annual event that brings together representatives of the Ukrainian government, business, and society for open dialogue, exchange of experience, creation of a space of trust, and effective strategies for economic development, will take place.
For the second time, the forum will be held in Kyiv under martial law. The theme of this year’s KIEF is “People. Business. Economy. The Price of Freedom”.
Key topics of KIEF 2023:
and others.
“In times of the most difficult historical test for the country, its economy, business, society, and for each of us personally, we must unite, combine our efforts and experience to make difficult, bold, and pragmatic decisions. The goal is to become co-authors not only of the Victory, but also of the future of an independent, innovative, and prosperous Ukraine that our descendants will be proud of. It all depends on us,” commented Vasyl Khmelnytsky, initiator of the forum and founder of UFuture holding.
They will share their experience and vision:
“Last year, we discussed the topic of restoring the Ukrainian economy after the victory. But life turned out to be much more complicated and the challenges much more serious. KIEF 2023 is dedicated to finding solutions to the most pressing ones that need to be addressed here and now. The high price of Ukraine’s freedom and independence must be justified. This is a task for each of us,” said Yuriy Pyvovarov, CEO of the Kyiv International Economic Forum.
“Despite the war, Ukrainian business continues to operate, supporting the army and humanitarian initiatives. This year’s KIEF is an opportunity to discuss the problems, solutions and tools for integrating veterans into civilian life. It is an opportunity to share experience of doing business during the war and join forces on the way to victory. An opportunity to record our achievements and plan the next steps. This is a crucial event where Superhumans Center has a platform for a joint discussion on how to build a new social contract between people returning from war and business,” said Olga Rudneva, CEO of Superhumans Center.
As part of the event, each participant will be able to contribute to the support of the Superhumans Center for Rehabilitation, Prosthetics and Reconstructive Surgery. The proceeds from the registration fees will be used to rehabilitate Ukrainians affected by the war.
On the day of the event, the KIEF YouTube channel will broadcast the event via the link.
The innovative partner of the event and the exclusive partner of the online broadcast is Mastercard.
General media partner: ICTV.
Title media partner: 1+1 Media.
Title partners: UFuture, Mastercard, Nova Poshta, AJAX, Biopharma.
Partners: Kyivstar, Aequo, Dynasty Investment Group, Interpipe, Epicenter, Superhumans Center, All-Ukrainian Mental Health Program “How are you?”, NGO “Bezbariernist”.
We believe that our victory, our recovery and economic development are our choice and our business.
Join the change on October 12.
For more information about the event and conditions of participation, please follow the link.
Kyiv International Economic Forum 2023
People. Business. Economy
The price of freedom
During his visit to the United States, Ukrainian President Volodymyr Zelenskyy met with the most influential American entrepreneurs and heads of major funds, the press service of the Presidential Office reported on Friday.
The meeting was organized with the assistance of JP Morgan, the world’s largest investment bank. The total value of assets under management of the funds whose managers participated in the event exceeds 30 trillion. In particular, according to the press service, the meeting was attended by Bloomberg LP founder Michael Bloomberg, Pershing Square Capital chairman Bill Ackman, Starwood Capital chairman Barry Sternlicht, Citadel LLC founder Ken Griffin, Blackstone investment company president Jonathan Gray, BlackRock deputy chairman Philip Hildebrand, Schmidt Futures charity chairman Eric Schmidt, Kraft Group chairman Robert Kraft and others.
“The parties discussed the prospects of involving the largest American business in Ukraine’s recovery and the implementation of investment projects. American entrepreneurs and financiers confirmed their readiness to make large-scale investments in Ukraine immediately after the end of the war and the receipt of security guarantees,” the press service reports.
President Zelenskyy also had a separate meeting with Larry Fink, chairman of BlackRock, the world’s largest asset management company.
Residential real estate prices in Germany in the second quarter of 2023 fell by an average of 9.9% compared to the same period last year, according to a report by the Federal Statistical Office of Germany (Destatis).
The rate of decline has been the highest since the data began to be tracked in 2000.
In April-June 2022, housing prices in Germany reached a record level, according to Destatis.
Meanwhile, the decline in the value of residential real estate in quarterly terms continues to slow down, indicating that the market downturn caused by the general weakening of economic activity and rising mortgage rates may be nearing completion.
The house price index fell by 1.5% in the second quarter compared to the first quarter. For comparison, in January-March 2023, the decline was 2.9% compared to the previous quarter, and in October-December 2022, it was 5.1%.
The number of economic discussions will increase as Ukraine approaches EU accession, and they will mainly concern agriculture, as 40% of the legislative norms that need to be harmonized relate to the agricultural sector, said Mykola Solsky, Minister of Agrarian Policy and Food.
“We need to understand that as we get closer to (Ukraine’s) accession to the European Union, the number of economic discussions will increase. We need to develop immunity to them, be smart and pragmatic,” he said on the air of the United News marathon.
The minister also noted that this year Ukraine received a list of legislative norms from the EU that need to be prepared and changed, and 40% of everything that needs to be adapted to join the EU is related to agriculture and food.
Solsky emphasized that in recent months, Ukraine has for the first time faced the need to defend its economic position to neighboring countries. “This is the first but not the last economic discussion,” he added.
The minister also emphasized that the grain dispute with neighboring countries is the first precedent for Ukraine that has caused such an emotional reaction among Ukrainian society and politicians.
“I propose to treat this as if we have taken half a step to the last line before joining the European Union. When we become a member of the European Union, it will always be like that. This is normal according to the rules of the European Union. This is a democratic association (…) This is a process that we will obviously go through many times,” the Minister of Agrarian Policy said.
Answering a question about the possible escalation of emotions around Ukrainian agricultural exports during the EU accession, Solsky said that there will definitely be such discussions, but “we should not be afraid of them, but should immediately prepare, learn something and take into account something.”
According to the minister, the work at the European Commission level over the past six months has shown that this association regularly holds meetings of agricultural ministers, where discussions are constantly taking place.
“Each state has its own farmers, its own processors, its own interests, which it considers national. They sometimes go against the opinion of other members of the European Union. (…) If we want to be a member of the European Union, we need to be ready to defend our interests publicly, sometimes not publicly,” the minister explained.
As reported, during the week, Solsky held telephone talks with the agriculture ministers of Romania, Bulgaria, Slovakia, Hungary and Poland to discuss the details of the introduction of stricter controls over the export of Ukrainian wheat, rapeseed, sunflower and corn to these countries after the European Commission lifted restrictive measures. Ukraine is obliged to provide written explanations to the neighboring countries on the implementation of the proposed procedures. Negotiations will continue next week.
Ukraine is entering the autumn-winter season with a sufficient amount of gas in underground storage facilities, while maintaining a stable pricing policy, said Oleksiy Chernyshov, CEO of Naftogaz of Ukraine, during the United News telethon.
“Gas prices for households and district heating companies remain stable. They will not change until the end of winter. Therefore, I have to reassure the population in this regard, as well as cities and district heating companies,” he emphasized.
The Head of Naftogaz Group also noted that the preparations for the heating season were at the proper level.
“We have to move forward, get through this winter and be absolutely confident of victory and further actions,” Chernyshov said.
Earlier on Tuesday, Energy Minister Herman Halushchenko said that electricity prices for household consumers would remain stable until the end of this heating season.
“As for resources, we will be provided with everything we need, both coal and gas. Due to high temperatures in the last two months of summer, coal stocks in warehouses have fallen slightly, but we have already signed relevant contracts, including imports, and we will be fully provided with coal in the required volume,” the minister said.
According to him, almost 15 billion cubic meters of gas have been accumulated in storage facilities so far, which is even more than planned for the beginning of the heating season.
