Citi Ukraine has provided a grant to the Unbroken Foundation in the amount of USD 900 thousand. The funds were used to purchase a modern Arveo8 GLOW400 microscope.
This high-precision equipment will allow doctors to perform complex operations to remove dangerous shrapnel in the brain and spinal cord, as well as to treat brain tumors. Over the course of a year, the microscope will help to perform 250 neurosurgical operations. Patients will be able to receive the necessary assistance at the UNBROKEN Center at St. Luke’s Hospital of the First Medical Association in Lviv.
Alexander McWhorter, Chairman of the Management Board of Citibank JSC, said: “Supporting healthcare is one of Citi’s key objectives in Ukraine. Investments in healthcare save lives and create the future. We believe that providing a grant for the purchase of a microscope will be a useful contribution to the development of neurosurgery in time of war and will create opportunities for successful treatment of patients at the UNBROKEN Center.”
The Arveo8 GLOW400 microscope will enable the surgeons at the UNBROKEN Center to remove tiny fragments of shrapnel with maximum precision. Thanks to its high technology, even the smallest damaging fragments can be visualized and separated without additional damage to the brain and spinal cord tissue.
Oleksandr Kobzarev, Executive Director of the UNBROKEN Charitable Foundation, emphasized: “We are very grateful for the generous financial support from Citi Ukraine and co-financing from the Meest Foundation. This is a clear manifestation of social responsibility and involvement in solving complex humanitarian issues. Together we prove that cooperation between charitable foundations and business multiplied by the skill of doctors can work real miracles. This equipment will save lives and help restore health to our defenders with the most severe brain injuries. Thank you for being a part of our mission!”
In addition to shrapnel wounds, the microscope will be useful for surgical intervention in the treatment of brain tumors. The surgeons will be able to remove even the most complex tumors, clearly delineating the boundaries of the tumor and healthy tissue.
UNBROKEN doctors say: “This microscope is essential for performing complex surgeries to remove small but extremely dangerous shrapnel in the brain and spinal cord of our defenders.”
Since February 2022, Citi and the Citi Foundation have donated more than $6.5 million to support humanitarian initiatives, including rebuilding schools, providing legal and psychological counseling to women, and helping Ukrainian refugees find safe havens in other countries.
About Citi Ukraine
Citi Ukraine is a member of Citigroup, one of the four largest U.S. banks by assets. We have been in Ukraine for over 25 years. Our offerings cover all aspects of cash and liquidity management, trade services and finance, treasury, corporate finance and lending, securities services and issuer services. We are honored to help unlock the country’s economic potential by serving nearly 500 clients, including the public sector, multinationals, leading Ukrainian companies and foreign investors looking to invest in the Ukrainian market.
About the UNBROKEN Charitable Foundation
The UNBROKEN Charitable Foundation (the “Foundation”) is a charitable organization that specializes in raising funds to help war victims. The Foundation actively cooperates with the National Rehabilitation Center “UNBROKEN”, providing financial support for the provision of comprehensive medical care. In times of war, we are focused on creating opportunities for treatment of Ukrainians in their own country, providing medical facilities with the most modern equipment.
During negotiations with representatives of the European Union in Ukraine, the Verkhovna Rada Committee on Agrarian and Land Policy discussed the prospects of receiving grants and financing for the Ukrainian agricultural sector, as well as the introduction of Common Agricultural Practice (CAP) after joining the European Union, MP Serhiy Labaziuk (For the Future party) said in a telegram channel.
Christian Ben Hell, Head of the Agriculture, Fisheries, Forestry and Food Safety Sector of the EU Delegation to Ukraine, informed that Ukrainian farmers have already received grants worth EUR 1.5 billion.
“My colleagues suggest not to tax pomegranates for farmers in any way, as this is actually humanitarian aid. The EU considers it incorrect to take part of it into the budget,” said the MP.
The participants of the meeting stated that the EU requirements for agriculture have been met by more than 71%. In the course of further adaptation of the European legislation, the MPs emphasized the need to introduce changes taking into account the interests of Ukrainian producers.
“Ukrainian farmers want to work with the European market, but this figure will be about 20%. The rest will be transit or export to other countries,” said Labaziuk.
The MPs also raised the issue of the blockade on the Ukrainian-Polish border.
“The committee returned to the issue of parity – whether we will have any problems or manipulations with the export of our products if we fulfill the EU requirements in good faith,” the parliamentarian summarized.
The meeting heard reports from Deputy Minister of Economy and Trade Representative Taras Kachka and Deputy Minister of Agrarian Policy and Food Oksana Osmachko.
Ukraine has received a $1.35 billion grant from the United States, Prime Minister Denys Shmyhal said.
“The U.S. government has allocated funding through the U.S. Agency for International Development (USAID) and in coordination with the U.S. Treasury Department and the U.S. Department of State,” Shmyhal wrote on his Telegram channel.
According to him, the funds will be used for priority humanitarian and social programs.
“The funding raised is aimed at reimbursing priority social and humanitarian expenditures of the state budget, in particular, to ensure the payment of salaries to educators,” the press service of the Ministry of Finance said.
It is noted that the funds were transferred to the state budget of Ukraine through the World Bank’s Public Expenditure Support for Sustainable Governance in Ukraine (PEACE in Ukraine) project.
“Since February 2022, direct budget support from the United States has reached $28.2 billion. This is the largest financial assistance to Ukraine among all countries of the world (…),” said Finance Minister Sergii Marchenko.
The Ministry of Finance reminds that this year Ukraine expects $7.8 billion in budget support from the United States, of which $5.2 billion has already been mobilized.
The USAID Business Sustainability Investment Project has awarded a second grant of $2.76 million to OTP Bank (Kyiv) to expand access to finance for micro, small and medium-sized enterprises (MSMEs), the bank’s website reports.
“More than 100 companies have already been financed under the first tranche. The new tranche of $2.76 million will bring the total grant amount to $4 million. The funds will be used to compensate for part of the interest rate for borrowing companies,” the website says.
It is noted that the grant program provides for business lending at an interest rate of 9.9% per annum in the first year of the loan agreement, and the difference with the market rate will be compensated by grant funds.
In the second year and thereafter, clients are obliged to pay interest on the use of credit funds at the rate of UIRD3m+5% per annum.
Under the terms of the program, micro, small and medium-sized enterprises with annual revenues of up to EUR 50 million and up to 250 employees belonging to one of the following target groups: relocated or affected by hostilities, companies in critical industries, and companies with female co-owners can receive financing on such terms.
The maximum loan amount that a company or a united group of companies can apply for is UAH 20 million, and the minimum is UAH 1 million.
“The grant program also applies to factoring agreements, under which the bank’s clients can receive up to 90% of the cost of supplies in the amount of UAH 2 million to UAH 20 million. Special conditions will apply to agricultural producers if they use the funds received under the grant program to purchase products from OTP Agro Factory’s partners,” the press release said.
The press service reminded that during the first stage of the program, which started in 2023, more than 100 Ukrainian enterprises were provided with financing.
According to the National Bank of Ukraine (NBU), as of July 1, 2024, OTP Bank ranked 11th (UAH 114.55 billion) in terms of total assets among 62 banks in the country. The financial institution’s net profit for 2023 amounted to UAH 3.71 billion.
A EUR100 million grant agreement has been signed by Volodymyr Kudrytskyi, Chairman of the Board of NPC Ukrenergo, and Lorenz Gessner, Head of the Representative Office of the German state development bank KfW in Ukraine, the company said.
According to its Telegram post on Friday, the signing took place in Kyiv on Thursday in the presence of Deputy Energy Minister Roman Andarak and members of the EU Delegation to Ukraine.
It is noted that the European Commission has authorized KfW to provide Ukrenergo with funds from the EU’s special budget program Ukraine Investment Facility and to ensure the financing and implementation of a number of priority energy projects.
These include the modernization of high-voltage substations in the western regions of Ukraine and the development of interconnectors connecting it to the power system of continental Europe, as well as the repair and restoration of equipment destroyed or damaged by Russian shelling at high-voltage substations, and the purchase and supply of new equipment.
In addition, part of the funds should be used to strengthen the physical protection of Ukrenergo’s substations.
NPC noted that this grant is the second phase of the target program “Reconstruction and Restoration of Ukraine’s Electricity Transmission Infrastructure”, as the company signed an agreement with KfW on the first phase of the program worth EUR 15 million at the Berlin Conference on the Restoration of Ukraine-2024 in June.
In total, since the beginning of the full-scale war, Ukrenergo has attracted EUR324 million with the support of KfW, and the total amount of international assistance attracted amounted to EUR1.5 billion, the NPC summarized.
Ukraine has received $760 million in grant funds from Japan and Norway, Ukrainian Prime Minister Denys Shmyhal has announced.
“The funds were received through the World Bank’s PEACE in Ukraine mechanism. They will be used to cover the priority expenditures of the state budget,” Shmyhal wrote in a telegram on Wednesday.
According to him, in 2024, Ukraine expects tangible financial support from Japan. “We have held many talks on this issue in Tokyo and obtained significant results. I thank our partners for their unconditional support,” Shmyhal wrote.
