Business news from Ukraine

COST OF HOUSING CONSTRUCTION UNDER ‘BIDEN’ PROJECT WILL BE $750/SQ M – ACADEMY OF CONSTRUCTION

The cost of construction of low-rise eight-apartment buildings under the Biden project will be $750/sq m, a plot has already been allocated in Bucha district for the pilot implementation of two houses.

 

“The cost of the house, including construction, engineering, exterior and interior decoration, furniture, household appliances and climate engineering equipment, will not exceed $750 per square meter. This is an ambitious figure and difficult to achieve, but we have confidence in our suppliers, thanks to whom we can count on such a prime cost,” Ivan Perehynets, an academician of the Academy of Construction of Ukraine, the director of the scientific and technical center, said during a press conference at the Interfax-Ukraine agency on Thursday.

According to the academician, the Soniachne garden partnership in Bucha district of Kyiv region decided to allocate a land plot of 0.1 hectares for the pilot construction of two houses of the Biden project. The sites already have engineering and transport infrastructure. Construction is scheduled to begin before July 1.

According to the project, the area of one apartment in such a house is 60 square meters. The cost of such an apartment, including a parking space, will be about $45,000.

The International Construction Fund of Ukraine special fund was created to finance the project.

Perehynets noted that both local governments and cooperatives and other self-organizing bodies of the population can buy housing. In addition, he allows the purchase of such housing by businesses for further commercial use.

As reported, the Academy of Construction of Ukraine plans to implement a project for the rapid construction of housing in the format of eight-apartment houses for Ukrainians who have lost their homes. The construction of such housing takes about 60 days.

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U.S. PRESIDENT JOE BIDEN SIGNS $40 BLN BILL FOR UKRAINE

On Saturday, U.S. President Joe Biden signed a bill approved by the Congress to appropriate $40 billion for Ukraine, the White House press service has reported.
“On Saturday, May 21, 2022, the President signed into law H.R. 7691, the “Additional Ukraine Supplemental Appropriations Act, 2022,” the press service said in a statement posted on the White House’s official website.
“Additional Ukraine Supplemental Appropriations Act, 2022” provides supplemental emergency appropriations for fiscal year 2022 to Federal agencies to respond to the situation in, and for assistance to, Ukraine.

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BIDEN TO SIGN LEND-LEASE LAW FOR UKRAINE TODAY

On Monday, May 9, US President Joseph Biden intends to sign law S. 3522 “Lend-Lease Act in Defense of Democracy in Ukraine of 2022,” according to Biden’s public schedule for Monday.
As noted, the signing will take place at 14.45 (21.45 Kyiv time).

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BIDEN TO ASK CONGRESS FOR MORE FUNDS FOR MILITARY ASSISTANCE TO UKRAINE

U.S. President Joe Biden intends next week to send a request to Congress for an additional budget for military assistance to Ukraine.
At the White House on Thursday Biden said that next week, he will send a request to Congress for an additional budget to keep the flow of weapons and ammunition to the brave Ukrainian fighters uninterrupted. He explained that this is also necessary to continue economic support. According to the president, he will appeal to Congress, as the previously allocated budget for assistance to Ukraine is running out.
The U.S. President believes that Congress will quickly respond to his request.

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WHITE HOUSE: BIDEN IS READY TO MAKE TRIP TO UKRAINE

US President Joe Biden on Thursday announced his readiness to make a trip to Ukraine, the White House press pool said.
“Yes,” the president said, answering the question whether he was ready to go to Ukraine.
At the same time, the president noted that the US administration is currently “making a decision” about a possible trip of high-ranking representatives of the US authorities to Ukraine.
Earlier, Politico reported, citing sources, that the US administration was conducting internal discussions about sending a high-ranking US official to Kyiv in order to demonstrate support for Ukraine. The most likely candidates for a trip to Kyiv may be US Secretary of State Anthony Blinken or Secretary of Defense Lloyd Austin.
The administration is also considering the candidacies of the US President himself and US Vice President Kamala Harris.
Politico’s interlocutors noted that if the administration decides to send someone to Kyiv, there will be no advance announcement of the trip for security reasons.

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BIDEN TELLS ZELENSKY ABOUT PLANS TO PROVIDE UKRAINE WITH $500 MILLION IN FINANCIAL ASSISTANCE

US President Joe Biden, in a conversation with his Ukrainian counterpart Vladimir Zelensky, announced Washington’s plans to provide Ukraine with $500 million in direct financial assistance, according to a White House press release.
“President Biden informed President Zelensky that the United States intends to provide the Ukrainian government with $500 million in direct budget support,” the document says.
The two leaders also discussed how the US is working with allies and partners to identify additional opportunities to provide defense assistance to the Ukrainian military. It was also about how the United States is trying to “satisfy the basic needs of Ukraine in the field of security.”
In addition, Zelensky provided Biden with information on the state of negotiations between Ukraine and Russia, the press release also says.

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