Kyiv hosted the 12th Kyiv International Economic Forum (KIEF), dedicated to the performance of the Ukrainian economy amid escalating war risks. Discussions centered on how businesses can adapt to new threats, maintain production, and find resources for recovery and development.
Opening the forum, Ukrainian Prime Minister Serhiy Koretskyi stated that Russia has intensified its attacks on the Ukrainian economy. According to his estimates, direct losses exceeded $7.7 billion, and more than 1 million square meters of real estate have been damaged or destroyed. By the end of the year, the prime minister said, the budget will fall short of planned revenues by about $1.5 billion.
At the same time, he emphasized that despite the consequences of the war, the economy continues to function thanks to the resilience of entrepreneurs and their teams, and support for business remains one of the government’s priorities.
“We realize how important it is right now to support Ukrainian businesses in return for this resilience, in return for this dedicated work,” noted Serhiy Koretskyi.
Despite limited budgetary resources, the government is continuing its lending programs and developing mechanisms to insure against war risks. Under the “5–7–9%” program, 580 billion hryvnia in loans have already been issued since the program’s inception. 457 companies have already insured their property under the loss compensation program administered by the Export-Credit Agency, with a potential payout of over 9 billion hryvnia. The next step is a broader system of war risk insurance, to which the state plans to allocate $1 billion and attract an additional $3 billion from international partners.
Among the external challenges are the tightening of EU trade restrictions on Ukrainian exporters, particularly producers of metallurgical and agricultural products. Business representatives spoke of reduced access to the European market, while Ukraine’s representative to the EU, Taras Kachka, discussed accelerating integration into the EU’s internal market and expanding the industrial visa-free regime.
The labor shortage also remains acute. Experts estimate migration losses at approximately 5 million people, while businesses are facing a shortage of skilled workers. Among possible solutions, participants discussed dual education and creating conditions to encourage Ukrainians to return by offering jobs and affordable housing.
The overall business sentiment at KIEF is cautious but pragmatic. The impact of the attacks varies by industry, but companies agree on the need to hope for the best while remaining prepared for various scenarios. Companies are reviewing safety protocols, setting up shelters, and developing their own response systems. In particular, Vyacheslav Klimov, co-owner of the NOVA Group, said that “Nova Poshta” has implemented its own air defense project, which has already shot down Russian drones. Companies are also developing their own fire departments.
“The top priority for Ukrainian businesses is how to adapt to the new challenges of the war and get through this winter. It’s not easy for anyone, so it’s especially important to support one another. If I need services or partners, I turn first and foremost
to Ukrainian companies. This is a matter of principle: by buying goods and services from one another, we support businesses, preserve jobs, and help our economy survive,” emphasized Vasyl Khmelnytsky, initiator of the Kyiv International Economic Forum (KIEF) and founder of the UFuture holding company.
The business community’s main requests to the government are predictable regulations, insurance against war risks, and solutions to the labor shortage. Businesses have learned to operate amid constant threats, but the costs of security and recovery are limiting opportunities for new investments.
“We have held the KIEF both under pandemic restrictions and after the start of the full-scale invasion. This year, the question of how not only to keep businesses running during the war but also to avoid losing opportunities for development has become particularly acute. There are no ready-made solutions to all problems, so it is important to combine business expertise with the capabilities of the government and international partners,” said KMEF CEO Yuriy Pivovarov.
Title partners of the forum: UFuture, Mastercard, AEQUO, PrivatBank, Kyivstar
Forum partners: Sense Bank, NEQSOL Holding, PUMB, DTEK, Ajax Systems, Uklon, General Chereshnya, Biopharma, Eclectic Talents Group, TERWIN, CEO Club Ukraine, BALEX, Naftogaz Group.
Open4Business is the forum’s media partner.
The British government has announced that it will provide Ukraine with an additional 10 billion pounds in aid, according to Valeriy Zaluzhny, Ukraine’s ambassador to the United Kingdom and former commander-in-chief of the Armed Forces of Ukraine.
“This money will go toward strengthening Ukraine’s air defense this winter, expanding British export capabilities to meet Ukraine’s military needs, and providing economic support to our country over the next three years,” he wrote on Facebook.
According to the ambassador, the UK will also continue to apply sanctions pressure on Russia to force Vladimir Putin to “finally take negotiations seriously as a genuine peace process, rather than issuing ultimatums.”
“This British aid does more than just help Ukraine continue the fight. It is a boost to resilience at a time when the enemy is trying to force us to surrender by terrorizing peaceful cities,” Zaluzhny emphasized.
He thanked British Prime Minister Andy Burnham, the government, and the people of the United Kingdom for their support.
According to Experts.news, Ukrainians’ total debt to microfinance organizations (MFOs) reached 32.32 billion UAH as of July 1, 2026, an increase of 17%—or 4.7 billion UAH—since the beginning of the year. At the same time, the number of court cases filed by the largest players in the microcredit market rose significantly in 2026, according to data from the analytical service “OpenDataBot” published on September 1 and October 28.
According to statistics from the National Bank of Ukraine, during the first half of 2026, the population entered into 4,196,309 contracts with microfinance organizations totaling 37.5 billion UAH.
At the same time, the number of loans issued did not change significantly compared to last year and amounted to approximately 700,000 contracts per month.
The main change is related to an increase in the average loan amount.
In the second quarter of 2026, it reached 9,170 UAH, compared to approximately 6,290 UAH during the same period in 2025. Thus, the average microloan increased by nearly one and a half times.
At the same time, the total debt of the population to MFIs continued to grow.
As of the end of 2022, microloan debt stood at approximately 8 billion UAH. However, starting in 2023, this figure began to rise, exceeding 32 billion UAH by mid-2026.
The growth in lending volumes has been accompanied by an increase in revenue for the largest microfinance companies.
According to OpenDataBot, the combined revenue of Ukraine’s ten largest MFIs for January–June 2026 totaled 12.78 billion UAH, while their combined profit amounted to 1.16 billion UAH.
“Ukr Credit Finance,” operating under the CreditKasa brand, took first place in terms of revenue with 1.99 billion UAH. The company’s profit amounted to 172.6 million UAH.
“E Groshi” took second place in revenue among MFOs with 1.85 billion UAH, while “Spotzhyvchyi Tsentr,” operating under the “ShvydkoGroshi” brand, took third place with 1.52 billion UAH.
At the same time, “Spotzhyvchyi Tsentr” was the most profitable company among the top ten MFOs, with a profit of 361.3 million UAH for the first half of the year.
According to the ranking of corporate plaintiffs published on October 28, “Ukr Credit Finance” also ranks first in Ukraine in terms of the number of new court cases.
In the first half of 2026, 80,421 cases were filed based on its claims, compared to approximately 23,000 for the entire year of 2025.
“Consumer Center” ranks second with 68,076 cases, which is 36% more than in the full previous year.
Thus, the two companies, which are among the largest players in the microcredit market in terms of financial indicators, have also become leaders in the number of court cases filed.
Vasyl Krat, a judge on the Supreme Court of Ukraine, attributes the high number of credit disputes, in particular, to the lack of a fully-fledged out-of-court mechanism that would simultaneously ensure the collection of legitimate debts and protect citizens from excessive interest rates.
He also draws attention to the financial difficulties faced by the population amid a full-scale war, when the loss of income and property increases the need for short-term loans but simultaneously limits the ability to repay them.
At the same time, debt indicators and the number of court cases cannot be directly equated.
MFI statistics reflect borrowers’ aggregate financial obligations as of a specific date, whereas the ranking of corporate plaintiffs takes into account the number of pending court cases. It does not include data on the amounts of claims, their resolution, or the amounts actually recovered.
Furthermore, the study does not establish a direct cause-and-effect relationship between the growth in debt to MFIs and the number of lawsuits filed against specific companies.
At the same time, the combination of an increase in the average size of microloans, total household debt, and creditors’ litigation activity indicates the growing significance of the consumer debt problem for Ukraine’s financial market.
Microfinance organizations are participants in the non-bank financial market and primarily provide short-term consumer loans to the public. The National Bank of Ukraine regulates and supervises their activities.
Sources: “OpenDataBot,” microcredit statistics as of September 1, 2026; “OpenDataBot,” ranking of corporate plaintiffs as of October 28, 2026; Supreme Court of Ukraine, commentary on interest rates on consumer loans.
Ukraine is asking Moldova to extend the 50% discount on transit rail freight for Ukrainian cargo through 2027, Prime Minister Serhiy Koretskyi said.
“Russian attacks on Ukrainian ports are intensifying. They are indeed harming our export flows and require reliable alternative routes. I thank the Moldovan government for providing Ukraine with a 50% discount on rail transit through Moldovan territory,” Koretsky said at a joint briefing with Moldovan Prime Minister Vasile Tofan on Monday in Kyiv, as reported by an Interfax-Ukraine correspondent.
According to him, over the past eight months, the volume of cargo transported through Moldova has increased significantly, and the volume of transit traffic has tripled.
“We have requested that these conditions be extended into 2027 in order to ensure predictable export flows for both Ukraine and Moldova. I believe this is mutually beneficial—it provides additional revenue for Moldova and further diversification for Ukraine,” stated the head of the Ukrainian government.
Koretsky also noted that, to increase transit volumes, it is proposed to use Ukrainian locomotives and crews on the Ocnita-Beresti section.
“We are also ready to share all the experience of the Ukrainian railway gained during the full-scale invasion—the speed of recovery, response times, repairs, and so on,” he added.
In addition, the countries intend to strengthen security at border crossing points.
“I welcome Moldova’s readiness to launch joint control at two more border crossing points: the temporary Yampil-Coseuți bridge is beneficial to both countries. The main work is expected to be completed by the end of the year,” the prime minister announced.
For his part, the Moldovan prime minister noted that the countries are actively working on developing road and rail corridors—the “European Solidarity Routes”—modernizing border crossing points, and expanding joint border control. “This opens up new opportunities for trade, investment, and the reconstruction of Ukraine,” he emphasized.
The parties are also discussing the situation on the Dniester River, specifically better coordination of water release, taking into account inflow volumes and the water needs of downstream communities.
As previously reported, in August, Ukraine reached an agreement with Moldova on a 50% discount on the transit of Ukrainian cargo by rail through Moldova until the end of 2026.
Ukraine has officially been granted sectoral partner status in the Pacific Islands Forum (PIF), which brings together 18 states and territories in the Pacific region. The decision was made by the organization’s leaders at the 55th summit in Palau, held from August 30 to September 4, 2026, the Ukrainian Embassy in Australia reported on October 25.
According to the diplomatic mission’s statement, the Forum Secretariat sent an official notification confirming Ukraine’s inclusion in the Sectoral Partnership Stream.
This decision was the result of more than three years of diplomatic efforts aimed at expanding Ukraine’s relations with the states of Oceania and regional international organizations.
The new status provides for the possibility of regular political dialogue with Forum member states, particularly within the framework of the organization’s annual meetings of foreign ministers with international partners (Forum Foreign Ministers–Forum Partners Dialogue).
In addition, Ukraine and the Forum will be able to develop a joint cooperation plan in areas of mutual interest.
Kyiv has identified food security, digital governance, education, and climate change adaptation as priority areas.
In particular, developing cooperation in the area of food security could create additional opportunities for Ukrainian agricultural and food producers. Countries in the Pacific region are interested in increasing the resilience of food supplies, as many island economies are heavily dependent on imports.
Another promising area is the exchange of Ukraine’s experience in the digitization of public services and the development of e-governance.
In the field of education, this new format of cooperation could facilitate academic exchanges, joint research programs, and the training of specialists.
However, the embassy’s statement did not announce any specific trade agreements, investment projects, or financial commitments. Ukrainian diplomacy attaches particular importance to cooperation with the states of Oceania on issues of international law, compliance with the UN Charter, and the protection of states’ sovereignty and territorial integrity.
The embassy emphasized Ukraine’s interest in strengthening international support for the principle that state borders cannot be altered by force.
Ukraine also expressed its gratitude to the leadership of the Forum Secretariat and to all 18 member states and territories of the organization for supporting the decision to grant the new status.
The Pacific Islands Forum was established in 1971 under the name South Pacific Forum. In 2000, the organization adopted its current name. Its headquarters are located in Suva, the capital of Fiji.
The Forum’s members include Australia, New Zealand, Fiji, Papua New Guinea, Samoa, Tonga, Vanuatu, the Solomon Islands, Kiribati, Nauru, Tuvalu, Palau, the Marshall Islands, the Federated States of Micronesia, the Cook Islands, Niue, as well as French Polynesia and New Caledonia.
The organization addresses issues of regional economic integration, trade, climate change, sustainable development, and security. One of its key strategic documents is the 2050 Strategy for the Blue Pacific Continent.
At the 2026 summit, member states approved an updated mechanism for engaging with international partners, which divides cooperation into strategic and sectoral areas.
Ukraine’s attainment of sectoral status creates an institutional framework for long-term cooperation with the nations of Oceania; however, it does not mean that the country has joined the Forum as a full member.
Source: Embassy of Ukraine in Australia, official statement dated October 25, 2026.
DIPLOMACY, FOOD SECURITY, international cooperation, Oceania, UKRAINE
The Dnipropetrovsk District Administrative Court ruled that the Territorial Center for Recruitment and Social Support’s (TCRSS) refusal to remove a Ukrainian citizen—who had officially changed her gender from male to female—from the military registry was unlawful, and ordered the center to make the corresponding changes to the “Oberig” registry.
According to the civic movement “All Together!” citing the court’s decision, the case concerns a citizen who was previously registered for military service as a male subject to military service and, after officially changing her gender, received documents indicating her female gender.
After obtaining her new documents, she applied to the Territorial Military Registration and Enlistment Office (TMC) to be removed from the military registry. However, the agency refused, citing that a change of gender is not explicitly provided for by law as an independent basis for removal from the registry. In addition, TMC representatives insisted that she undergo a military medical examination.
The court found that the plaintiff had no medical or pharmaceutical education or specialization that could serve as a basis for mandatory military registration of women. Furthermore, she had not submitted an application for voluntary registration.
In the court’s view, the absence in the legislation of a separate procedure for removal from military registration following an official change of gender cannot serve as grounds for denying the protection of a citizen’s rights. The court also noted that it is impermissible to apply to the plaintiff the rules intended for men after she officially changed her legal status.
As a result, the court fully granted the claim, ruled that the TCC’s refusal was unlawful, and overturned it. The agency was ordered to remove the plaintiff from the military registration of conscripts and to update her information in the Unified State Register of Conscripts, Military-Age Persons, and Reservists, “Oberig.”
The decision was issued on October 15, 2026, in Case No. 160/22278/26. It may be appealed.
COURT, military registration, OBERIG, Territorial Military Commissariat, UKRAINE
