Business news from Ukraine

Cabinet allocates another UAH 5.6 bln for construction of fortifications in 5 regions

The Cabinet of Ministers of Ukraine has allocated another UAH 5.6 billion for the construction of fortifications in Donetsk, Zaporizhzhia, Sumy, Mykolaiv and Kherson regions, Prime Minister of Ukraine Denys Shmyhal said.

“This year, the government has already allocated UAH 20 billion for the construction of reliable fortifications. Today we are adding another UAH 5.6 billion,” Shmyhal wrote on his Telegram channel following a government meeting on Tuesday.

In particular, UAH 1.1 billion has been allocated for the construction of fortifications in Donetsk region, more than UAH 1 billion for Zaporizhzhia region, UAH 1.5 billion for Sumy region, as well as UAH 300 million and UAH 400 million for Mykolaiv and Kherson regions, respectively.

, ,

Cabinet approves $1.2 bln to support social sector

The Cabinet of Ministers of Ukraine has approved attracting $1.2 billion from the International Bank for Reconstruction and Development (IBRD) to support the social sector, Prime Minister Denys Shmyhal said.

“Today we are making a decision that will allow us to attract $1.2 billion from the World Bank Group (IBRD) to support the social sector,” Shmyhal said at a government meeting on Friday.

According to him, these are funds under the guarantees of the Japanese government, which Ukraine will use for social protection of Ukrainian families and children, social protection of people with disabilities and other important social programs.

, ,

Cabinet has prepared and submitted to Rada bill “On grapes and grape products

The draft law “On grapes and wine products” (#9139) the government registered in the Verkhovna Rada on March 22 aims to implement relevant EU regulations on winegrowing and winemaking, enological practices, production of flavored wine products, use and protection of geographical indications of wine.
“At the same time, the purpose of the bill is to create a unified state information system “Vine and Wine Register”, which will include information on: producers of grapes; wine products; vineyard plots; mandatory declarations and other data on wine products provided by this law, the introduction of information in which is mandatory, ensuring the effective administration and state support of the viticulture and wine industry,” – also stated in the explanatory
The document implies the introduction of requirements for the production and circulation of wines, products of viticulture and winemaking, flavored wine products with geographical indications, similar to the current rules in the EU. In particular, blending of wine produced in Ukraine with imported wine as well as wine produced outside Ukraine is not allowed.
In addition, the bill provides for the possibility of state support for viticulture and winemaking in the framework of the general laws “On state support of agriculture” and “On the specifics of insurance of agricultural products with state support” without any details, except for the principles of objectivity, equality and proportionality.
The document also contains the principles of inspection of wine production from the vine bush to the final product, defines the controlling institutions and their powers and specifies sanctions, the explanatory note states.

, , ,

Cabinet allocates additional 150 million UAH for grants for development of processing enterprises

The government on November 25 allocated UAH 152.7 million to finance establishment or development of processing enterprises and agricultural producers within the framework of the program “eRabota”, the Ministry of Economy said.
“Due to the funds allocated today entrepreneurs have to create more than a thousand jobs”, – as the first Vice Prime Minister – Minister of Economy Yulia Sviridenko stated in the release.
The department specified that 119 million UAH out of this amount is provided for the creation or development of processing enterprises, which will receive 22 enterprises and due to which 405 jobs are planned to be created.
The Ministry of Economy specified that 11 grants will be given for food production, four – for the repair and installation of machinery and equipment, two grants each for furniture production and chemical products, one grant each for the production of rubber and plastic products, wood processing and manufacture, as well as for textile production.
According to the release, the remaining 33.7 million UAH will be received by 6 companies in the form of grants for the establishment or development of horticulture, viticulture and berry growing. In particular, it is planned to grow apples, hazelnuts, walnuts, blueberries and blueberries, which should create 635 jobs (28 – permanent and 607 – seasonal).

, , ,

Cabinet approves $500 million loan to Ukraine from IBRD

The Cabinet of Ministers has approved a $500 million loan from the International Bank for Reconstruction and Development (IBRD).

Taras Melnychuk, representative of the Cabinet in the Verkhovna Rada, said in Telegram on Friday that the relevant decision was made at the government meeting on Friday.

In particular, it was deemed appropriate to attract a loan from the International Bank for Reconstruction and Development as the fourth additional funding for the project “Support for Public Expenditure to Ensure Sustainable Public Administration in Ukraine” in the amount of $500 million.

, ,

CABINET LAUNCHES NEW BUSINESS SUPPORT GRANT PROGRAMS

The Cabinet of Ministers has launched three new grant programs to support businesses, Prime Minister of Ukraine Denys Shmygal said.
“The first is irrevocable grants for the creation and development of processing enterprises. This may be an enterprise in the woodworking, metalworking, agricultural processing, furniture or construction sectors,” he said during a government meeting on Friday.
He added that the state will provide up to UAH 8 million in grant funds for those who already own a processing business or want to start one. It is fashionable to spend the grant on the purchase of equipment, the main requirement is to create at least 25 new jobs. In this case, the business owner must invest 30% of his investment. To receive a grant, an entrepreneur should submit a working idea, the prime minister explained.
The Cabinet of Ministers also approved a grant program for the IT sector and high-tech startups in the amount of UAH 750 thousand to UAH 3.5 million with the requirement to create at least five jobs.
In addition, the government launched the Start in IT grant program for IT education with a budget of UAH 1.8 billion, Shmygal noted. Thus, the state plans to finance educational grants up to UAH 30,000 for 60,000 Ukrainians. Funds can be spent on paying for a school or courses that will be determined by the Ministry of Finance.
This program is not for students or current professionals, but for those who have lost their jobs or are down and want to learn new skills in the profession of a developer or web designer, he pointed out.
Gradually, the details of these and other programs within the framework of the eWork project will become available in DIA, the head of government said.

, , ,