Business news from Ukraine

Business news from Ukraine

Nearly 3,000 Ukrainian farmers applied for EU aid

2,740 farmers from Ukraine have already applied for participation in the program financed by the budgetary support of the European Union through the State Agrarian Register (SAR), according to the website of the Ministry of Agrarian Policy and Food on Friday.
Farmers with a land bank of 1 to 120 hectares (with payment of up to 3.1 thousand UAH/ha), and owners of 3 to 100 cows (with payment of up to 5, 3 thousand UAH/head).
According to the Ministry of Agrarian Policy, a total of 2,299 applications were submitted for payments in the first direction, and 437 in the second.
The agency recalled that the acceptance of applications for assistance in the two above areas will last until November 15, 2022.
At the same time, only agricultural producers registered in the GAR and meeting its criteria can be participants in the program. Currently, 11,000 users have already registered with the GAR, who can access information about existing state support programs in real time and apply for it online.
As reported, GAR is an automated electronic system available to all agricultural producers, regardless of the form of management. With the help of the registry, it is planned to provide public services, simplify access to bank financing and loan guarantee programs, as well as introduce targeted government support programs and evaluate their effectiveness.
The project is being implemented in coordination with the State Geocadastre, the Ministry of Justice and with the assistance of the World Bank and EU project “Support for transparent land management in Ukraine”, as well as the USAID Agricultural and Rural Development Program.
In the last three years, the EU has been supporting the introduction of GAR in Ukraine. With technical and financial assistance from the EU, the government has developed the software and carried out two pilot implementations ahead of a nationwide launch in August 2022.

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Biden’s administration asks Congress to allocate another $13.7 bln aid to Ukraine

The administration of US President Joseph Biden is asking the US Congress to allocate additional security and economic assistance to Ukraine in the amount of $11.7 billion, as well as $2 billion in domestic energy supplies to offset the impact of the war on the global energy market, writes in Friday the American edition of The Hill.
“We have rallied the world to support the people of Ukraine and defend our democracy, and we simply cannot let that support for Ukraine dry up,” an unnamed administration official told reporters.
Specifically, the White House is asking Congress to approve $4.5 billion for military equipment and Pentagon resupply, $2.7 billion for defense and intelligence assistance for Ukraine, and $4.5 billion for budgetary support for the government of Ukraine.
The $2 billion request to support domestic energy sources is distributed as follows: $1.5 billion for fuel for nuclear reactors and $500 million for the modernization of the Strategic Petroleum Reserve.
The White House says the funds are needed to maintain the pace of assistance to Ukraine during the first three months of fiscal year 2023, which begins in early October. An administration official said roughly three-quarters of the funds previously approved by Congress for Ukraine had already been spent or disbursed.
The publication recalls that Congress, on a bipartisan basis, has already approved the allocation of more than $53 billion in security, economic and humanitarian assistance to counter the Russian invasion of Ukraine this year. The White House expects that these funds will be enough until the end of the fiscal year.
Both parties support sending aid to Ukraine as it battles more than six months of attacks from Russia, although it is possible that at least some Republicans will doubt the latest funding request.
In addition to increased funding for Ukraine, the White House is also asking Congress to authorize additional billions to fund the federal government’s response to the Covid-19 pandemic, monkeypox response, and disaster relief. The emergency funding request is $47.1 billion.

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G7 COUNTRIES TO ANNOUNCE NEW AID TO UKRAINE – BLOOMBERG

The leaders of the G7 countries will announce the provision of new financial, humanitarian and military support to Ukraine, Bloomberg reports citing a draft statement of these countries from the summit in Bavaria.
“We will continue to provide financial, humanitarian, military and diplomatic support to Ukraine, as well as support it for as long as necessary,” the agency quotes from a document received by it.
Bloomberg emphasizes that this “wording is important because the members of the G7 are concerned about the prolongation” of the war. However, some countries, including Germany and France, “have hinted that they may be more open to the idea of a negotiated ceasefire.”
According to the agency, the document says that the leaders of the G7 are also considering the possibility of using revenue from duties to support Ukraine.
It is noted that earlier the G7 discussed how to coordinate actions to combat rising inflation and prevent a recession, as well as ways to maintain “pressure on Russia.”
The G7 summit is taking place in Bavaria on June 26-28.

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EU TO ALLOCATE 9 BILLION EUROS IN AID TO UKRAINE

The EU will allocate 9 billion euros in aid to Ukraine, Polish Prime Minister Mateusz Morawiecki has said.
“This historical moment and the language of today’s conclusions have been rejected for a long time. We have changed this with many countries. Ukraine is at war and has nothing to pay for many public services, so we have approved the allocation of 9 billion euros in aid,” Morawiecki said. on the page of the Office of the Polish Prime Minister on Twitter on Friday.

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SECOND TRANCHE OF AID FOR 600 MLN EUROS FROM EU WILL BE PAID TO UKRAINE “VERY SOON THIS MONTH”

The second tranche of the European Union’s macro-financial assistance to Ukraine in the amount of 600 million euros will be paid “very soon” in May.
This was reported to Interfax-Ukraine on Monday by a high-ranking official of the European Commission.
“The European Union has allocated 1.2 billion euros of macro-financial assistance, of which 600 million euros have already been paid, and the remaining 600 million will be paid very soon this month,” he informed.
The official also reminded that on May 5, a donors’ conference organized by Poland and Sweden will take place. “It will be a fundraiser for humanitarian aid,” he added.
Speaking generally about the reconstruction of Ukraine after the war, the representative of the European Commission stated the need to restore the country in accordance with “European standards, in accordance with the European Green Deal, the digitalization agenda, with the best principles of public administration, the rule of law – in every sense – in accordance with European standards.” “This is exactly how we think it can be done, that we can do it together. Of course, on our part, this will require very deep cooperation with Ukraine,” he added.

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COCA-COLA WILL PROVIDE AROUND $15 MLN IN AID TO UKRAINE

American-based Coca-Cola Co., the world’s largest soft drink producer, along with the Coca-Cola Foundation and its global bottling partners, will provide around $15 million in aid to Ukraine, which has been militarily invaded by Russia’s aggressor nation.
Efforts to provide humanitarian assistance in the region will include donations of funds and products manufactured by the corporation, according to the company’s report for the first quarter of 2022.
“This funding will support further relief efforts by the Red Cross and other organizations operating in Ukraine and neighboring countries, helping millions of displaced people,” Coca-Cola said in a report.
In addition, the corporation provides urgent financial assistance to all its employees in Ukraine.
According to the report, on March 8, 2022, Coca-Cola announced the suspension of its activities in the Russian Federation in response to its armed aggression in Ukraine. This measure will tentatively reduce the corporation’s net revenue and operating profit for the year by 1-2%, and also reduce earnings per share by about $0.04/share.
The company’s net profit in January-March decreased by 23.5% compared to the same period last year, to $2.25 billion.
Coca-Cola’s quarterly revenue increased by 5%, to $9.02 billion from $8.6 billion a year earlier.
Sales of carbonated drinks increased by 4%, driven mainly by China, India and Latin America. Sales of juices, milk drinks and plant-based drinks increased by 3%. Sales of water, sports drinks, coffee and tea fell by 11%.
As reported, Coca-Cola on March 8 announced the suspension of business in Russia in connection with Russian aggression against Ukraine, while in Russia it owns 10 factories for the production of soft drinks and juices.
On February 24, the corporation announced a temporary shutdown of the plant in Kyiv and the evacuation of employees.

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