Business news from Ukraine

Business news from Ukraine

GERMAN CHANCELLOR SCHOLZ: GERMANY SUPPORTS UKRAINE IN PROTECTING ITS SOVEREIGNTY

German Chancellor Olaf Scholz says that Germany supports Ukraine and “acts decisively.”
“Our goal must be that Ukraine can defend its sovereignty, its freedom and its democracy. We support them in this. We are acting prudently and adapting to the current situation. And we are acting decisively,” he tweeted.
As reported, Finance Minister Serhiy Marchenko said last week that preparations had recently begun for the next EUR150 million loan from Germany, which will help support Ukraine’s macro-financial stability.
According to him, only in the second half of April, Germany received a EUR150 million loan to support small and medium-sized businesses, an agreement on which was reached back in March 2020.
“Minister Christian Lindner also noted that they are considering providing us with military support in the amount of EUR1 billion, but we expected from Germany no less financial support than that provided by the UK, Canada or the United States,” Marchenko said.

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MINISTER OF FOREIGN AFFAIRS OF UKRAINE – GERMANY PLAYS DECISIVE ROLE IN INTRODUCTION OF OIL EMBARGO AGAINST RUSSIA

Ukrainian Foreign Minister Dmytro Kuleba, following a conversation with the head of German diplomacy Annalena Berbock, said that Germany plays a decisive role in preparing the EU oil embargo against Russia.
“I spoke with my German colleague Annalena Burbock and thanked her for her decision to support the oil embargo against Russia. Germany plays a decisive role in preparing this step. I also stressed that granting Ukraine the status of an EU candidate is in the interests of Ukraine, Germany and Europe,” he wrote. Kuleba on Twitter on Monday.

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MINISTRY OF EDUCATION: NECESSARY LEARNING CONDITIONS CREATED FOR UKRAINIAN SCHOOLCHILDREN IN POLAND, GERMANY AND ITALY

The Ministry of Education and Science says that Ukrainian students in Poland, Germany and Italy have the necessary conditions for learning.
“On April 26, 2022, the monitoring visit of the members of the Coordinating Headquarters for the Protection of the Rights of the Child under martial law to the EU countries ended … Monitoring the movement of Ukrainian children allows timely decisions to be made to protect the rights of children, organize the educational process and provide applicants with the necessary technical means,” the statement says. press release from the Ministry of Education.
It is noted that the results of the monitoring visit to Poland, Germany and Italy testify to the creation of all conditions for children temporarily displaced abroad. In particular, children are provided with the necessary means of education and continue to receive an education of the appropriate level.
“Students are involved in the educational process both in educational institutions and in institutions of Ukraine (remotely),” the message says.

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UKRAINE PLANS TO GET LOANS FROM ITALY AND GERMANY

Minister of Economy and Finance Daniele Franco confirmed an intention of the Italian government to provide Ukraine with a loan of EUR 200 million, Finance Minister of Ukraine Serhiy Marchenko said in an interview with Italian Corriere della sera following the recent talks in Washington at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank.
“We are negotiating to receive funds on concessional terms: at 1% per annum, with a maturity of 15 years. In my opinion, other countries can also offer us loans on such concessional terms. Such financing would certainly help us,” Marchenko said.
He also thanked Italy, which was the first of all countries to provide Ukraine with EUR 110 million on grant terms at the very beginning of the war unleashed by Russia.
The Ukrainian Finance Minister said that the preparation of an agreement on the next EUR 150 million loan from Germany, which will help support Ukraine’s macro-financial stability, has also recently begun.
According to him, only last week Germany provided a EUR 150 million loan to support small and medium-sized businesses, an agreement on which was reached back in March 2020.
“Minister Christian Lindner also noted that they are considering providing us with military support in the amount of EUR 1 billion, but we expected from Germany no less financial support than that provided to us by the UK, Canada or the United States,” Marchenko said.
According to him, Kyiv has high hopes for funding from the IMF managed account. “We encourage partner countries to consider reallocating 10% of their Special Drawing Rights (SDRs) that they received from the IMF in August 2021 and have not yet used. We are mainly targeting EU countries. However, specific rules should be agreed with the European Union and European Central Bank (ECB),” the Minister of Finance explained.
According to him, the EU countries will consider this issue, as there may be some restrictions on the use of SDRs by the ECB.
“But I think that countries will try to find a legal solution with the ECB to make SDRs available to Ukraine. The IMF is also working with other countries to find out how the allocated SDR quotas can be used to support Ukraine,” the minister said.
As reported, President of Ukraine Volodymyr Zelensky, in his speech at the Spring Meetings of the IMF and the World Bank, indicated that the country needs support of up to $7 billion monthly, and Prime Minister Denys Shmyhal noted that up to $5 billion is needed monthly to cover the budget deficit.

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GERMANY PLANS TO INCREASE SOCIAL PAYMENTS TO REFUGEES FROM UKRAINE

The relevant bill will be considered in the Bundestag.

If adopted, from June 1, 2022, citizens of Ukraine who have received a residence permit in accordance with the law on the stay of foreigners will receive social assistance in the amount of 449 euros. Now the amount of payments is about 300 euros. More than 400,000 Ukrainian refugees have already arrived in Germany, and about 3,000 more are arriving every day, according to the Ukraine Round Table held in Berlin on Monday with the participation of German Chancellor Olaf Scholz.

According to the information, more than 60 thousand Ukrainian schoolchildren are already studying in Germany, and graduates of Ukrainian schools were allowed to enter German universities without a diploma. According to the UN data, as of 13:00 on April 24, a total of 5.23 million people left Ukraine since the beginning of the war (excluding the entry flow), of which 2.91 million went to Poland, 843.74 thousand to Romania and Moldova. , Russia – 605.82 thousand, Hungary – 492.98 thousand, Slovakia – 355.59 thousand, Belarus – 24.48 thousand.

At the same time, according to the State Border Service, 1.17 million people have entered Ukraine by this date since February 28.

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UKRAINE PLANS TO ATTRACT LOANS OF EUR 200 MLN FROM ITALY, EUR 150 MLN FROM GERMANY – FINANCE MINISTER

Minister of Economy and Finance Daniele Franco confirmed an intention of the Italian government to provide Ukraine with a loan of EUR 200 million, Finance Minister of Ukraine Serhiy Marchenko said in an interview with Italian Corriere della sera following the recent talks in Washington at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank.
“We are negotiating to receive funds on concessional terms: at 1% per annum, with a maturity of 15 years. In my opinion, other countries can also offer us loans on such concessional terms. Such financing would certainly help us,” Marchenko said.
He also thanked Italy, which was the first of all countries to provide Ukraine with EUR 110 million on grant terms at the very beginning of the war unleashed by Russia.
The Ukrainian Finance Minister said that the preparation of an agreement on the next EUR 150 million loan from Germany, which will help support Ukraine’s macro-financial stability, has also recently begun.
According to him, only last week Germany provided a EUR 150 million loan to support small and medium-sized businesses, an agreement on which was reached back in March 2020.
“Minister Christian Lindner also noted that they are considering providing us with military support in the amount of EUR 1 billion, but we expected from Germany no less financial support than that provided to us by the UK, Canada or the United States,” Marchenko said.
According to him, Kyiv has high hopes for funding from the IMF managed account. “We encourage partner countries to consider reallocating 10% of their Special Drawing Rights (SDRs) that they received from the IMF in August 2021 and have not yet used. We are mainly targeting EU countries. However, specific rules should be agreed with the European Union and European Central Bank (ECB),” the Minister of Finance explained.
According to him, the EU countries will consider this issue, as there may be some restrictions on the use of SDRs by the ECB.
“But I think that countries will try to find a legal solution with the ECB to make SDRs available to Ukraine. The IMF is also working with other countries to find out how the allocated SDR quotas can be used to support Ukraine,” the minister said.
As reported, President of Ukraine Volodymyr Zelensky, in his speech at the Spring Meetings of the IMF and the World Bank, indicated that the country needs support of up to $7 billion monthly, and Prime Minister Denys Shmyhal noted that up to $5 billion is needed monthly to cover the budget deficit.

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