€16 million, with EU support, will support procurement of modern trolleybuses and infrastructure improvements
The European Bank for Reconstruction and Development (EBRD) is lending €16 million to the City of Cherkasy in Ukraine to finance the purchase of modern trolleybuses and the upgrade of related infrastructure for the city. The investment will strengthen sustainable urban mobility and ensure uninterrupted public transport services amid the wartime challenges facing Ukraine.
The loan, fully guaranteed by the City, will be co-financed by an investment grant of up to €4 million from the EBRD Shareholder Special Fund and will benefit from partial first loss risk cover under the European Union’s Ukraine Investment Framework Municipal Infrastructure and Industrial Resilience Programme (UIF MIIR). This promotes green transition and resilience in Ukraine’s economy by supporting sustainable investments in green city infrastructure, greening logistics chains, energy efficiency and green technology transfers.
The financing will enable Cherkasyelektrotrans, the municipal public transport operator in Cherkasy, to expand its fleet with new low-floor trolleybuses, modernise depots and other infrastructure, and extend and realign three trolleybus routes.
The project forms part of the EBRD’s Resilience and Livelihoods Framework, aimed at safeguarding essential municipal services during wartime. It will improve mobility for residents, including internally displaced people, and significantly reduce polluting emissions, contributing to better air quality. Aligned with the Paris Agreement’s mitigation and adaptation goals, the project is classified as 100 per cent green finance.
It also promotes inclusion by increasing accessibility for passengers with limited mobility and supporting gender equality through a partnership with UN Women’s She Drives programme, which will train and certify women and youth as trolleybus drivers.
By investing in Cherkasy’s public transport system, the EBRD is helping to maintain vital services, strengthen resilience and advance Ukraine’s green transition during a time of unprecedented challenge.
The EBRD has substantially increased its investments in Ukraine since Russia began its full-scale war there in 2022, deploying more than €8.5 billion to support energy security, vital infrastructure, food security, trade and the private sector.
Over UAH 13.7 billion has been borrowed by Ukrainians from microfinance organizations over the past three months, which is more than 2 million microloans. In total, 6.5 million microloans worth UAH 40 billion have been issued since the beginning of the year. The average amount of a microloan in Ukraine is UAH 6,417. In total, citizens currently owe more than UAH 25 billion to microcredit organizations. The amount of debt has increased by 26% since the beginning of the year.
Ukrainians took out 2,138,569 microloans in the third quarter. The quarter-on-quarter loan growth rate is slightly lower – about 2%. Over the past three months, more than UAH 13.7 billion has been borrowed from microcredit organizations.
In total, since the beginning of the year, microloans have been applied for more than 6 million times, with the total amount of loans amounting to more than UAH 40 billion.
Despite the fact that the number of microloans is decreasing, the average loan amount per quarter has increased. Currently, the average amount borrowed from MFIs is UAH 6,417. For comparison, at the beginning of the year, payday lenders borrowed UAH 5,773.
Microloans are not as well repaid: since the beginning of the year, the total amount of debt has increased by a quarter and reached UAH 25.15 billion.
Opendatabot analyzed the financial reporting data of microfinance organizations – among those that have already published this information – and compiled a rating of the country’s top 10 MFIs by income. The top ten in the first three quarters of 2025 was headed by UKR CREDIT FINANCE, which operates under the CreditKasa brand with a revenue of UAH 2.4 billion. For comparison, for the whole of last year, the company’s revenue amounted to UAH 4.2 billion. Credit plus (AVENTUS UKRAINE) is in second place with revenue of UAH 1.67 billion. The top three payday lenders are rounded out by ShvydkoGroshi (CONSUMER CENTER) with UAH 1.63 billion in revenue for the three quarters of this year.
https://opendatabot.ua/analytics/mfo-2025-9
Ukraine is offering holders of GDP warrants issued for a nominal amount of $2 billion 591.219 million to exchange them at a ratio of 1.34 for new amortized Eurobonds of Ukraine B maturing in 2030-2032 and to pay cash compensation of up to 7% for such an exchange, according to a proposal on the Irish Stock Exchange and Cabinet of Ministers Resolution No. 1554 of December 1.
It notes that Ukraine and the special committee of GDP warrant holders made significant progress on the terms of such an exchange in the next round of negotiations from November 25 to 30, but the search for full agreement will continue in the coming days in order to reflect the results of such consultations in the relevant amendments to the Memorandum of Exchange by December 5.
The basic terms provide that 45% of the principal amount of the new Eurobonds B will be redeemed on February 1, 2030, and 2031, while the remaining 10% will be redeemed on February 1, 2032.
The interest rate on these bonds will be 4% per annum from the date of placement until February 1, 2027, then 5.5% until August 1, 2029, and 7.25% per annum for the remaining period until maturity.
Holders of GDP warrants who agree to the exchange during the early acceptance period, up to and including December 12, will receive an additional cash payment of 7% ($70 for every $1,000 of the principal amount of GDP warrants), while those who do so between December 13 and 17 inclusive will receive 4.5%.
Finally, those who do not participate in the exchange, if it is approved, will receive other Eurobonds with a total ratio of 1.36 – Eurobonds B, which were issued during the restructuring of Eurobonds in 2024: at 0.68 – Eurobonds maturing in 2030 and 2034, with an interest rate of zero until February 1, 2027, 3% until August 1, 2033, and 7.75% per annum thereafter.
It is noted that the quorum for making a decision is 75% of the total nominal amount, and the decision is expected on December 22. At the same time, even with the consent of 50% of GDP warrant holders, Ukraine can initiate their delisting from the exchange.
According to the Frankfurt Stock Exchange, GDP warrants rose in price on Monday by 0.66% to 92.15% of their nominal value. The last time they were more expensive was in October 2021, after which their value fell below 20% of their nominal value in certain periods.
As reported, from October 16 to November 5, representatives of Ukraine held a series of limited negotiations with a special committee, which includes institutional holders of GDP warrants, during which the parties twice exchanged proposals for their restructuring without result.
Among the warrant holders are hedge funds Aurelius Capital Management LP and VR Capital Group. They are advised by Cleary Gottlieb Steen & Hamilton LLP and PJT Partners Inc, while the Ukrainian side is advised by White & Case LLP and Rothschild & Co.
Following the autumn round of negotiations, the Ministry of Finance emphasized that Ukraine intends to continue working with warrant holders and consider all available options for their restructuring that are consistent with the three previously stated objectives: restoring debt sustainability in accordance with the IMF program; the commitments made during the restructuring of Eurobonds in August 2024 to distribute the burden appropriately among all commercial claims within the restructuring; the moratorium on warrant payments from May 31, 2025, until the completion of their restructuring, approved by the government on August 27, 2024.
Ukraine’s revised proposal during those autumn negotiations was to compensate for the missed payment on warrants for the 2023 reporting year, which was due on June 2, 2025, and to exchange the warrants for a partial cash payment and a new series of sovereign bonds (“C Bonds”). Under Ukraine’s proposal, holders of GDP warrants who agreed to this restructuring option would receive $60 in cash and C Bonds with a par value of $1,260 for every $1,000 of notional value of the warrants. These bonds would be redeemed in three equal installments on January 30, 2030, 2031, and 2032. Interest on them would be paid semi-annually at rates of 2.50% for 2026-2027, 4% for 2028-2029, and 6.00% for 2030-2032.
The Ukrainian Ministry of Education and Science has announced competitions to fill rector positions at three more universities in Sumy and Zhytomyr.
According to the ministry, competitions have been announced for the positions of rector of the A. S. Makarenko Sumy State Pedagogical University, Sumy State University, and Polissya National University.
It is noted that Ukrainian citizens who are proficient in the state language in accordance with the level determined by the National Commission for State Language Standards (fluent command of the state language of the first or second degree), have an academic title and degree, and at least ten years of experience in scientific and pedagogical positions are eligible to participate in the competitions.
The deadline for submitting applications is two months from the date of publication of the announcement on the official website of the Ministry of Education.
As reported, on 3 September, the Ministry of Education cancelled the competition for the position of rector of the Kyiv National University of Technology and Design (KNUTD) due to a lack of candidates.
In October-November, the Ministry of Education announced competitions to fill the positions of rectors at 11 universities in Odesa, Vinnytsia, Kropyvnytskyi, Kharkiv, Chernihiv and Kyiv, in particular: Odessa State Academy of Civil Engineering and Architecture, Kharkiv National Economic University named after Semen Kuznets, National Technical University ‘Kharkiv Polytechnic Institute’, Kharkiv National Pedagogical University named after G. S. Skovoroda, National University of Food Technologies, Yaroslav Mudryi National Law University, Vinnytsia National Technical University, Vinnitsa State Pedagogical University named after Mikhail Kotsyubinsky, Kharkiv National Automobile and Road University, Central Ukrainian National Technical University, and Chernihiv Polytechnic National University.
On November 26, the Cabinet of Ministers of Ukraine adopted a decision to strengthen support for the livestock industry in frontline territories. The corresponding resolution “On Amendments to the Procedure for Using Funds Provided in the State Budget for State Support for the Development of Livestock Farming and Agricultural Product Processing” was adopted at a regular meeting. The goal is to strengthen state support for agricultural producers in frontline territories and to develop the processing of agricultural products and livestock farming.
The changes provide for an increase in the partial reimbursement of the cost of building livestock farms for keeping cattle in frontline territories from 25% to 50% of the cost.
“Increasing the reimbursement to 50% is significant financial support for businesses that continue to invest in the restoration of livestock farming. This decision will not only reduce the cost of building new facilities, but will also contribute to the growth of milk production and value-added products. As a result, communities in frontline regions will gain new jobs, more stable incomes, and more opportunities for development even in the difficult conditions of war,” emphasized Taras Vysotsky, Deputy Minister of Economy, Environment, and Agriculture of Ukraine.
The government’s decision is an important step in supporting agricultural producers who are building or renovating livestock farms and processing facilities. The increased reimbursement rate will stimulate investment in livestock farming and accelerate the recovery of production in regions operating near the combat zone.
The document was prepared by the Ministry of Economy, Environment and Agriculture of Ukraine.
Ukraine imported 123,140 tons of potatoes in January-October 2025, which is 5.1 times more than in the same period last year, according to the State Customs Service.
According to published statistics, in monetary terms, potato imports increased 4.8 times, to $66.086 million, compared to $13.69 million a year ago. The main imports came from Poland (36.9% of supplies in monetary terms), Egypt (13.7%), and the Netherlands (11.6%).
At the same time, potato exports from Ukraine decreased by 13.4% to 2.14 thousand tons during the reporting period, while in monetary terms, sales were more profitable and brought in 2.4% ($521 thousand) more revenue than last year. The main buyers of Ukrainian potatoes were Moldova (58.5% of all exports), Azerbaijan (38.6%), and Singapore (0.6%).
In October 2025, Ukraine imported 359 tons of potatoes, which is 11.4 times (4,090 tons) less than in the same period last year, while exports increased 4.6 times (269 tons).
As reported, Ukraine had a poor potato harvest in the 2024 season due to drought, extremely high temperatures, and a shortage of seed material.
Deputy Minister of Economy, Environment, and Agriculture Taras Vysotsky noted in a podcast by the Center for Economic Strategies that in 2025, the vegetable harvest in Ukraine will be sufficient and even greater than last year, so no shortage is expected in this sector.
