Business news from Ukraine

UKRAINE’S ECONOMY MINISTRY RAISES ALMOST $1 BLN OF INTL TECHNICAL ASSISTANCE IN 2018

Ukraine’s Economic Development and Trade Ministry attracted $953.2 million of international technical assistance, which is 50% more than in 2017.
“These funds will be spent on the implementation of 264 new projects that are included in the medium-term Government Action Plan,” the ministry’s press service reported on its Facebook page on Thursday evening.
The press service also said that the ministry was able to attract $675 million from organizations of the UN system for the period 2018-2022.
“These funds will be used to implement projects in the areas of sustainable economic development, environment and employment, to ensure equal access to quality and inclusive services and social protection, and other things,” the ministry said.
In addition, for the years 2019-2024, the European Union has provided financial assistance to Ukraine in the amount of EUR 272.5 million. Of these, EUR 104 million will be sent to support energy efficiency, EUR 55,500 – to support public financial management for Ukraine, EUR 37 million – to increase the capacity of public authorities of Ukraine to implement the Ukraine-EU Association Agreement and the Deep and Comprehensive Free Trade Area (DCFTA) Agreement, EUR 58 million – to increase the effectiveness of reforms in the field of vocational education in Ukraine.
The U.S. government has provided Ukraine with $78 million in additional technical assistance.
“The countries and organizations that provide the most assistance to Ukraine are: the EU, the United States, Germany, Norway, UNOPS [United Nations Office for Project Services], the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), UN and others,” the Economic Development and Trade Ministry said.

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UKRAINE APPROVES DRAFT AGREEMENT ON EUR 54 MLN EU’S PROVIDING TECHNICAL ASSISTANCE TO UKRAINE FOR ENERGY EFFICIENCY

The Cabinet of Ministers has approved a draft agreement on the European Union’s providing technical assistance to Ukraine in the amount EUR 54 million to finance the EE4U-II energy efficiency support program, and also approved draft agreements on two other programs. According to the Ministry of Economic Development and Trade, the Cabinet of Ministers also approved a draft agreement on financing the “Program of Expanding Contacts between People: the House of Europe” between Ukraine and the European Commission with a budget of EUR18 million for eight years.
The aim of the program is to attract technical assistance from the EU to establish contacts, professional relations, cultural exchange between citizens of the EU and Ukraine.
In particular, the matter concerns organizing short-term professional internships in EU countries, supporting the House of Europe information center, expanding opportunities for Ukraine to participate in the Erasmus+ program.
In addition, the program assumes reimbursement of half the amount of Ukraine’s contributions to the Creative Europe program for 2018-2020.
In addition, the government approved a draft agreement on financing the technical cooperation program for 2018 with the budget of EUR 37 million to support the implementation of the Association Agreement on the deep and comprehensive free trade area, the Ministry of Economic Development and Trade reports.

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UKRAINE ATTRACTS $103.8 MLN OF TECHNICAL ASSISTANCE FOR HEALTHCARE PROJECTS IN H1 2018

The volume of technical assistance raised by Ukraine for the healthcare projects in January-June 2018 totaled $103.8 million, Ukraine’s Economic Development and Trade Ministry has reported. The entire sum was sent to implement 23 donor projects in the healthcare sphere and this is 3% of the total volume of technical assistance attracted by Ukraine over the period (not taking into account the Chornobyl Shelter Fund).
As reported, Ukraine in January-June 2018 raised $0.4 billion more international technical assistance compared with January-June 2017: $3.5 billion for 467 projects, not taking into account the Chornobyl Shelter Fund.

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U.S. CAN PROVIDE $78 MLN IN ADDITIONAL TECHNICAL ASSISTANCE TO UKRAINE – MEDT

The United States intends to provide Ukraine with $78 million in additional international technical assistance, reads a statement posted the website of Ukraine’s Ministry of Economic Development and Trade (MEDT).
“The Cabinet of Ministers on August 22 approved the signing of additional agreements to the September 14, 2014 agreement on the fulfillment of a task in the sphere of development between the governments of Ukraine and the United States of America on improving transparency of governance and stable economic development. The respective orders were prepared by the Ministry of Economic Development and Trade in connection with the intentions of the U.S. government to provide additional funds for the implementation of the goals envisaged by the agreement,” the report says.
In particular, the U.S. government intends to allocate $54.4 million in additional international technical assistance to ensure the accessibility of investment activities to the middle class in Ukraine, strengthen the potential of the private sector of the economy and improve energy efficiency and energy security, the ministry said.
“Thus, the total amount of technical assistance for these goals under the agreement, taking into account additional funds, will exceed $139 million,” the ministry added.
According to the report, the signing of additional agreements also provides for the provision of $23.6 million for governance reform. In particular, this includes bringing Ukrainian legislation into line with European standards, improving the functions of public oversight, as well as increasing the level of government accountability. For these purposes, the total amount of technical assistance, taking into account additional funds, will be $62 million, the press release reads.

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