Business news from Ukraine

LARGE UKRAINIAN BUSINESS WILL SET UP SEPARATE FUND TO HELP COUNTRY

President of Ukraine Volodymyr Zelensky has reported that he urged the large business to help the country, which “has been feeding it for many years” with finances, namely a separate fund will be set up for purchase of medicine and other necessary means during coronavirus spreading.
“We urgently need 50 ambulances. This is the amount that is not enough for our hospitals. We talked about certain means … Honestly, I spoke frankly with them that this country has been feeding them for many years – it’s time you (large businessmen) to help the country,” he said on the air of the Freedom of Speech program on ICTV.
Zelensky said that a separate fund was setting up “and UAH 12-13 billion is needed from businessmen for medicine.”

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UKRAINE CALLS ON BLACK SEA TRADE AND DEVELOPMENT BANK TO EXPAND PRESENCE IN COUNTRY

First Deputy Prime Minister and Economic Development and Trade Minister Stepan Kubiv at the annual meeting of the Board of Governors of the Black Sea Trade and Development Bank (BSTDB) has called the bank to increase financing of projects in Ukraine commensurate with the country’s contribution in the bank’s share capital, the Economic Development and Trade Ministry has reported on its website.
“It is important that the Board of Governors expands the activities of the bank and in 2018 approved 28 new projects worth EUR 569.7 million. At the same time, it is important that the active portfolio in Ukraine corresponds to the level of our contribution to the share capital of the bank, that is, 13.5% rather than 6% as we see today,” the ministry’s press service said, citing Kubiv speakingh in Istanbul (Turkey).
He also proposed holding the 22nd annual meeting of the BSTDB in Ukraine in 2020.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established in 1998 by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries.

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