The board of directors of British-based Ferrexpo Plc, which controls in Ukraine, in particular, the Poltava and Yeristovo mining and processing plants (GOK), has approved an increase in the level of financing for the company’s humanitarian fund by $5 million, to $12.5 million.
“The decision to approve additional funding has been made to ensure that the group’s management team is able to continue to respond in an effective and timely manner as the humanitarian crisis unfolds in Ukraine, with assistance being provided to communities across the country,” the group said on its website.
“More recent projects that the group has assisted through the fund, as well as additional funding via the group’s operating subsidiaries, have included the following: the purchase of power generators, fuel, water tanks, and food supplies; purchasing of ambulances for hospitals, as well as equipment for the treatment of wounds; renovation work and provision of facilities in local communities that are being used for accommodation; assisting in the delivery of humanitarian goods from Europe to Ukraine, and the relocation of animals from zoological parks in eastern Ukraine; and the purchase of electronic equipment to assist in documenting the damage being inflicted on communities across Ukraine,” the report says.
“Our efforts through our humanitarian fund are focused on providing direct and relevant financial support to a number of initiatives as we become aware of them, utilizing our experience of operating in Ukraine, and our wide and diverse business network to source goods and services for those in need. The nature and scope of the projects requiring assistance varies from day to day, and we are proud to be able to support communities across Ukraine at this difficult time,” Jim North, the CEO of Ferrexpo, said.
