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The MoF signed a fourth additional agreement with the Canadian government regarding a CAD 400M ($300M) loan. The loan is for ten years with an annual interest rate of 1.5%. The grace period is 4.5 years from the date Ukraine receives the funds. The funding will be directed to ensuring priority budget expenditures. At the same time, USAID is expanding the Agriculture Resilience Initiative (AGRI-Ukraine) and is mobilizing almost $1.75B with the participation of donor organizations and the private sector

According to the experts, two new buildings in the Lviv region and one in the Kyiv region were commissioned in September. The average cost per square meter in dollar equivalent increased by 1-6%, depending on the region. On an annual basis (September 2024 compared to September 2023), prices primarily increased in newly constructed buildings in the Kirovohrad, Volyn, and Ivano-Frankivsk regions. The highest average price in Kyiv was $1,349 per square meter. Demand increased in September, mainly in the Mykolaiv

According to the Kiel Institute of World Economy, “Ukraine is going through uncertain times regarding further support from Western allies. A Donald Trump US presidency or the use of new lending schemes, such as using frozen Russian assets or NATO contributions to replace European aid, could seriously undermine Ukraine”. In the summer of this year, aid contributions increased compared to the spring, mainly thanks to macro-financing intended to stabilize the country’s economy. Ukraine received about €14.6B in aid during July

On October 10, the Verkhovna Rada adopted draft law No. 11416-d, enacting a historic tax increase. The document provides for: An increase in the military levy from 1.5% to 5%, except for the military – their rate will remain unchanged The introduction of a military tax for individual entrepreneurs A 50% income tax rate for banks A 25% income tax rate for financial companies Rent increases for crushed stone, sand, and kaolin miners An increase in the minimum tax liability

The Council of the EU agreed to provide Ukraine with a €35B package of macro-financial assistance, which will be part of a €45B ($50B) G7 loan secured by the Russian Federation’s frozen assets. The EU plans for the funds to become available to Ukraine in 2024 and for the loan to be repaid within a maximum of 45 years. The new macro-financial assistance will be tied to the same political conditions established by the existing financial assistance mechanism from the

On October 9, Russia struck the port infrastructure in the Odesa region with ballistic missiles, damaging a civilian container ship, Shui Spirit, sailing under the Panamanian flag. This is the third foreign ship attacked by Russian forces in Ukrainian ports in the last four days. As a result of the attack, eight people died and the number of wounded has reached 11 people. It will be recalled that on October 7, Russia attacked the civil vessel Optima under the flag

Individual investments  increased to ₴71.2B ($1.7B) at the beginning of October, against ₴25.5B ($622M) in February 2022. Individual investors currently represent more than 4% of the total portfolio of domestic bonds. Previously, private investors in Ukraine’s domestic debt were rare, except for employees from the financial sector. In 2016, residents’ investments in domestic bonds amounted to only ₴100M. However, the war significantly changed the situation because all commissions and minimum requirements were removed. In addition, bonds can now be easily

US President Joe Biden said that Barack Obama is the one who should be held responsible for Russian dictator Vladimir Putin’s attack on Ukraine in 2014, the annexation of Crimea, and the war in Donbas, according to Washington Post editor Bob Woodward. The author claims that Biden made the statement at the end of 2023 in a conversation with his close friend, mentioning Obama’s policy towards Ukraine. “Barack never took Putin seriously. That’s why we found ourselves in such a

Several agreements were signed by the Ministry of Funds and Regional Policy of Poland and BGK, a Polish state development bank, which provide for the establishment of a PLN 250M ($65M) special fund to support Polish small and medium-sized enterprises that want to participate in Ukraine’s reconstruction. Support for various ongoing business opportunities, such as acquiring real estate and equipment is expected. Within the project’s framework long-term loans of up to PLN 10M ($2.5M) with low interest rates will be

As a result of the war-induced crisis of traditional power generation, this year businesses were forced to step up the development of renewable energy sources compared to 2023. Two examples are the VR Energy wind farm project on the Dniester estuary and EcoOptima Skolivska WPP, noted Stanislav Ignatiev, founder of the Kharkiv Energy Cluster. Also, non-core market players have begun to develop solar and wind projects: OKKO, Epicenter, and Nova Poshta. In the first half of this year, businesses built

Getreide AG, one of Germany’s leading rapeseed processors, officially opened a representative office in Ukraine at the beginning of October. The branch’s opening was necessary because the Black Sea ports were blocked after the start of the war. This decision allowed Getreide AG to continue working with Ukrainian farmers, buying rapeseed from them and exporting it to its factory in Rostock. In addition, the company is considering new business opportunities in Ukraine and has already started working with sunflower oil.

Ukraine is technically ready to get through the winter without the transit of gas through its territory, which is scheduled to stop entirely on December 31, said head of Naftogaz Oleksiy Chernyshov. Naftogaz has developed various scenarios for surviving the winter, including the termination of transit and gas distribution throughout the country. Chernyshov added that in October, Ukraine produced 53 million cubic meters of gas daily. Also, Ukrainian Minister of Energy Herman Galushchenko announced that by the end of the

The Cabinet of Ministers has approved investment contracts regarding significant financial infusions into the Ukrainian economy, bringing about €95M in investment. Ukrainian legislation provides that an investor who concludes a special investment agreement with the Cabinet of Ministers will receive significant support from Ukraine. The investor will be exempt from taxation and receive compensation of up to 30% of its substantial investment. An investment project worth €12M is eligible to receive support of up to €3.6M. UkraineInvest Government Office for

The Foundations of Peace document, which will contain detailed conditions for a just end to the war, will be ready by November, President Zelenskyy said at the Ukraine–South East Europe summit. According to him, Russia avoids honest diplomacy, so Ukraine has developed an action plan to bridge the gap between the current situation and the successful holding of the Peace Summit. “For us, this is a Victory Plan. For each of your countries, this is a plan for reliable stability.

The meeting between Volodymyr Zelenskyy and Joe Biden at the German Ramstein Air Base will not occur due to hurricanes in the US. At the Ramstein meeting, Zelenskyy was expected to demonstrate a change of attitude regarding a possible end to the war. Ukrainian officials are ready to admit that an endgame must come into play. During the Ramstein meeting, the Ukrainian president planned to enlist the support of allies for his Victory Plan but continued to reject any territorial

The German Parliament has allocated an additional €400M for military aid to Ukraine in 2024, which will allow the implementation of 50 projects totaling €1.4B this year. The German government announced delivery of air defense systems, tanks, IFVs, and artillery ammunition and noted an improvement in the situation with artillery shells. Russia’s artillery advantage has decreased from 8:1 in the spring to 3:1 currently. Last week, Germany delivered two anti-aircraft systems, the IRIS-T SLM and SLS, and two more will

Foreign and local companies in Ukraine have adjusted to the new realities and continued to work and try to expand their operations during the war. Moreover, many companies are considering entering the market early so as not to miss out on Ukraine’s reconstruction, but are prevented by internal policies that do not allow them to enter the market without proper insurance coverage. In response to market needs, Willis Towers Watson (WTW) developed Personal Accident and Emergency Medical Assistance insurance in

On October 8, the Ministry of Finance placed bonds of the domestic state loan (OVDP) for a total amount of ₴30.26B ($750M). This is more than for the month of August (₴29.1B) and is the largest figure since the beginning of the year. In order to increase borrowing on the domestic market, the ministry expanded the offer of hryvnia government bonds from four issues to six in October. This Tuesday, the sale of hryvnia bonds increased to ₴24.08B from ₴12.14B

The State Property Fund (SPFU) sold 100% of the United Mining and Chemical Company’s shares to the Cemin Ukraine firm, which offered ₴3.94B ($96M) for the state asset that the SPFU had tried to sell numerous times. The buyer is obliged to preserve the enterprise’s main activities, invest at least ₴400M ($10M) in technical conversion and modernization, and pay all debts to the state and creditors. Cemin Ukraine is indirectly owned by Azerbaijan’s NEQSOL Holding. Its largest asset in Ukraine

A few days after the US presidential elections on November 5, Hungary will host EU leaders at a summit in Budapest. Hungarian Prime Minister Viktor Orbán described the upcoming summit as a moment to unite the bloc “to try to find a common voice.” According to Orbán, if Trump is elected president he will not wait for his inauguration and will act immediately to “establish peace” between Ukraine and Russia, so European leaders should not waste time. “We have to