The G7 supports the plan to use Russian assets for Ukraine’s future security, and the World Bank is ready to manage the loan. The G7 finance ministers at a meeting in Italy supported the US’ idea to provide Ukraine with a loan secured by profits from frozen Russian assets. The $50B loan will be repaid through the profits fro... #AjayBanga #G7 #Hungary #LoansForUkraine #RussianAssets #RussianCentralBank #worldbank
The NBU explains what the confiscation of Russian assets depends on and how much can be obtained from their profits in 10 years. The European Central Bank (ECB) cannot confiscate frozen Russian assets, said NBU head Andriy Pyshnyi. As he explained, confiscation requires a consolidated decision and a legal basis. “It is ab... #AndriiPyshnyi #ECB #G7 #nbu #RussianAssetsConfiscation #RussianAssetsProfits
Ukraine announces its expectations for international financial assistance for this year. Since the beginning of the full-scale war, Ukraine has attracted more than $85B in external financing, Prime Minister Denys Shmyhal said. “Over ₴1T was attracted to the budget thanks to military... #DenysShmyhal #EFFprogram #financialaidforUkraine #imf #UkraineBudget2024 #UkraineFacility
France supports the US proposal for a $50B loan to Ukraine, and Germany is ready to transfer profits to Ukraine. The French government has given its support to the US government’s proposal to use frozen Russian assets, which increases the chances of reaching a preliminary agreement at the meeting of G7 finance m... #BrunoLeMaire #France #G7 #LoansForUkraine #ReparationsForUkraine #RussianAssetsArrested #RussianAssetsProfits
The G7 agrees on the details of providing Ukraine with a $50B loan secured by Russian assets. The G7 countries agree with the US’ plan to use frozen Russian assets. The move would provide Ukraine with up to $50B in financing and help protect it from political shifts on both sides of the Atlant... #G7 #JanetYellen #LoansForUkraine #ReparationsForUkraine #RussianAssetsArrested
Ukrainian businesses cite the risks of discontinuing currency liberalization measures. As stated by analysts, the continuation of currency liberalization is absolutely necessary. Expanding the established limits and conditions for paying dividends and interest on existing debts remains ... #CurrencyLiberalization #CurrencyRestrictions #Interpipe #InvestmentsinUkraine #nbu #ukrainianbusiness
Problems in Ukraine and uncertainty about future financial support from the US are pushing allies to squeeze the maximum out of Russian assets. The EU has taken a small step towards fulfilling its pledge to “make Russia pay” for the war in Ukraine, agreeing to use the proceeds from frozen Russian assets to provide Kyiv with about ... #G7 #JanetYellen #ReparationsForUkraine #RussianAssetsConfiscation #RussianAssetsProfits
Ukrainian defense enterprises are eligible to receive up to ₴2M in grant funds for new military projects. Ukrainian military equipment and defense system developers can now apply for grants of ₴500,000, ₴1M, or even ₴2M to implement their initiatives. Funding will be provided through the Brave1 grant prog... #Brave1 #DefenseIndustryUkraine #DefenseStartups #GrantsForStartups #WeaponsProduction
Germany will support the US plan to provide Ukraine with $50B in aid secured by revenue from frozen Russian assets. Germany’s agreement could be a crucial step that moves Washington and its allies closer to receiving a major new aid package for Kyiv and secures US support regardless of the outcome of November... #G7 #Germany #RussianAssetsArrested #RussianAssetsProfits #SupportUkraine
The EU approves the transfer of revenues from frozen Russian assets to Ukraine, 90% of which will go to the military. On May 21, the Council of the EU agreed on a conservative plan for the use of Russian assets for the benefit of Ukraine. It will allow Ukraine to receive €3B this year, the Minister of Foreign Affairs... #EUCouncil #EuropeanPeaceFund #JanLipavsky #RussianAssetsConfiscation #RussianAssetsProfits #SupportUkraine
Thanks to OVDP, the return on the Ukrainian banks’ assets increased to 11.6%. According to the National Bank, the return on assets increased by 0.2 percentage points on average over the last year, up to 11.6% in the first quarter of 2024, primarily due to revenues from OVDP ... #CreditPortfolio #nbu #PrivatBank #UkraineBanksProfits #UkraineBond #UkraineDeposits #UkrainianBanks
Ukraine’s bond market: Investors focus on longer maturities. Last week, investors’ interest in UAH bonds with longer maturities sharply increased as they tried to lock in current YTMs for longer. Taking advantage of the high demand, the Ministry of Financ... #BondMarketUkraine #BondSalesUkraine #financeUkraine #investments #UkraineBond #UkraineMonetaryPolicy
The G7 will grant Ukraine a €30B loan secured by Russian assets. This week, the finance ministers of the G7 countries will discuss the legality of using €270B in frozen assets belonging to the Russian Federation as collateral to provide Ukraine with a €30B loan. Wa... #G7 #JanetYellen #LoansForUkraine #RussianAssetsArrested #RussianAssetsConfiscation
Renovation of the energy system: Ukraine will develop smart power grids, and banks will support projects to restore energy generation. The Ministry of Energy of Ukraine approved the road map for developing smart networks to automate and implement digital solutions at all levels of the energy system. It is noted that the restoration o... #AndriiPyshnyi #energyukraine #nbu #SmartElectricalNetworks #SmartEnergy
The Polish State Bank will finance investment projects in Ukraine. Bank Gospodarstwa Krajowego (BGK) plans to start providing loan guarantees for investment projects in Ukraine, said the Chairman of the Board of the Polish Investment Agency (PAIH) Andrzej Dycha. R... #AndrzejDycha #BankGospodarstwaKrajowego #investments #PAIH #UkraineFacility
Bank lending to businesses continues to grow in Ukraine. Banks have been increasing corporate lending for three quarters in a row, according to the Review of the Banking Sector for the first quarter. It is noted that the demand for business loans outside th... #AffordableLoansUkraine #eOselya #LendingInUkraine #LoanPortfolio #MortgageProgram #nbu #NPL
The deposit yield for businesses and individuals in Ukraine has fallen. According to the Banking Sector Survey for the first quarter, banks reduced deposit rates for both commercial and consumer loans. The national bank notes that since the beginning of the year, the disc... #BankDepositsinUkraine #DiscountRateUkraine #financeUkraine #nbu #UkraineDeposits #UkrainianBanks
The G7 will support the EU’s use of profits from frozen Russian assets but still refuses their confiscation. G7 finance ministers will back an EU plan next week to use proceeds from frozen Russian assets to help Ukraine’s military efforts. The US proposed the outright confiscation of Russian assets, bu... #G7 #JanetYellen #ReparationsForUkraine #RussianAssetsConfiscation #RussianAssetsProfits
Piraeus Bank Executive: Ukraine’s banking system has shown outstanding resiliency, and international businesses should take note. The Ukrainian Banking Day in London gathered 150 finance executives from all over the world to listen to their colleagues who work in Ukraine and share their views on the financial sector’s cur... #financeUkraine #IoannisKyriakopoulos #nbu #PiraeusBank #UkraineBankingSystem #YannisKyriakopoulos
MEP: Ukraine needs another €200B in financial aid from the EU to cover all necessary expenditures. The EU should find an additional €200B to help Ukraine, as the €50B Ukraine Facility program does not solve all financing problems, said Viola von Cramon-Taubadel, a European Parliament member, during... #CompensationForUkraine #financialaidforUkraine #KyivSecurityForum #ReparationsForUkraine #ViolaVonCramonTaubadel
Austria created a €500M special fund to support businesses that export to Ukraine. The Ministry of Finance of Austria opened a special €500M credit fund in the Austrian Control Bank (OeKB) to support export operations with Ukraine during the next five years. “Russia has been a... #Austria #AustriaBusiness #BusinessSupport #OeKB #UkraineImport
The EBRD will provide ProCredit Bank with a €70M guarantee for lending to Ukrainian businesses. The European Bank for Reconstruction and Development will provide guarantees for Ukrainian ProCredit Bank sufficient to support €70M in new lending for small and medium-sized enterprises. The EBRD gua... #ebrd #FinancialGuarantee #GreenTechnologies #LoansforBusiness #ProCreditBank #ukrainianbusiness
Ukraine will soon launch a mechanism to insure investment loans against war risks. The Export Credit Agency will soon approve an investment credit insurance product, said Ruslan Hashev, head of the ECA board, at the My Export conference. Among the factors that determine the cost of ... #ECA #imf #InsuranceUkraine #InvestmentCredit #LoansforBusiness #MilitaryRiskInsurance
Ukraine’s allies plan to introduce sanctions against banks that help the Russian Federation. France and the Netherlands are pushing for EU sanctions against any bank in the world that helps the Russian military pay for weapons, goods, or technology. The proposal is being discussed as part of ... #circumventionOfSanctions #DualPurposeTechnologies #DualUseGoods #NewSanctions #RaiffeisenbankRussia
Military risk insurance is now provided by almost all Ukrainian insurers. More and more Ukrainian insurers are offering protection against war risk, and their number is is almost equal to the entirety of the active insurance market, about 50 companies, said the director of ... #DenysYastreb #MilitaryInsurance #MilitaryRiskInsurance #WarRisks
In the first quarter of 2024, Ukrainian banks increased their net profit by 18% from last year. During the first three months of the year, solvent financial institutions showed a ₴40.5B ($1.05B) net profit. “The main factors in profitability growth in annual terms are an increase in intere... #BankDepositsinUkraine #LendingInUkraine #nbu #UkraineBanks #UkraineBanksProfits #UkraineBond
The NBU predicts that consumer price growth will accelerate moderately in the coming months, although in April, it was lower than the regulator predicted. “The deviation from the forecast was provided by the dynamics of little-forecasted factors of a temporary nature, first of all, a sh... #ConsumerPrices #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomicForecast #UkraineEconomy
Ukraine must pay $25.2B to service debt this year. The Ministry of Finance has preliminarily estimated that in 2024 Ukraine will have to pay more than ₴1T ($25.2B) as part of its repayment and servicing of state debt. As of May 1, the total amount of ... #UkraineBond #UkraineBudget2024 #ukrainedebt #UkraineDebtPayment #UkraineEconomy
What does the NBU think about the new easing of currency restrictions and the return of currency extortion? NBU Chairman Andriy Pyshnyi said: “Our decisions are fully in line with our declared strategy of easing currency restrictions, transitioning to greater exchange rate flexibility and returning to... #AndriiPyshnyi #CurrencyLiberalization #CurrencyMarket #CurrencyRestrictions #financeUkraine #nbu
For the first time, international insurance broker WTW will cover war risks of goods transported by land in Ukraine. For the first time since the start of the full-scale war, Nasdaq-listed global insurance broker WTW has announced the launch of war risk insurance for overland cargo in Ukraine in partnership with Ukr... #Cargotransportation #InsuranceUkraine #MilitaryRiskInsurance #VUSO #WarRisks #WTW
Kyiv and Washington are negotiating lending terms for a $7.8B loan for Ukraine. Ukraine and the US are working on a list of conditions and reforms, the fulfillment of which will allow Kyiv to receive a $7.8B loan. US legislation that will provide Ukraine with almost $61B in finan... #LoansForUkraine #ReformsinUkraine #SupportUkraine #UkraineBudget2024 #USaidforUkraine
The EIB will provide up to €30M to support Ukrainian business: what other support programs are available to Ukraine? The Government of Ukraine has allowed two Ukrainian banks to borrow up to €30M from the European Investment Bank to further support Ukrainian small and medium-sized businesses by improving preferentia... #BusinessSupport #CzechRepublic #DenysShmyhal #EIB #ForestsOfUkraine #LoansforBusiness
Ukraine considers it insufficient to receive only profit from Russian assets. The €3B in profits collected from frozen Russian assets is “almost nothing” compared to the amount that will be necessary to win the war against Russia, said Minister of Justice of Ukraine... #DenysMalyuska #MatthewMiller #ReparationsForUkraine #RussianAssetsConfiscation #RussianAssetsProfits
Foreign financial aid for Ukraine fell to $1.7B in April after record inflows in March. According to experts from the Centre for Economic Strategy (CES), after the record-high receipt of foreign aid in March ($9B), in April aid decreased to $1.7B. Ukraine received a $1.6B loan from the E... #EUloans #financialaidforUkraine #GrantForUkraine #Japan #SupportUkraine #UkraineBudget2024 #UScongress
The EU has decided the fate of frozen Russian assets. The ambassadors of the EU agreed on what to do with the profits from the frozen assets of Russia, the Belgian Presidency of the Council of the EU has announced. The money will be used to support Ukrai... #Euroclear #RussianAssetsArrested #RussianAssetsProfits #SupportUkraine #UrsulavonderLeyen #ValerieUrbain
What grants are international partners offering to Ukrainian businesses? In Ukraine, the DRG4Food competition continues to provide grants for the implementation of innovations in the food industry. Its main goal is to promote the development and testing of responsible data... #DAIGlobal #DRG4Food #GrantsForBusiness #SustainableCity #ukrainianbusiness #USAID
After EU ambassadors voice their support for the Ukraine Facility, Ukraine looks to receive €16B in funding for 2024. Ambassadors of the EU member states have supported the Ukraine Facility, agreeing with the positive assessment of the financial support instrument proposed by the EC. The EU Council must still approve... #EUfinancialAid #ReformsinUkraine #UkraineFacility #YuliyaSvyridenko
Russia continues to find loopholes to circumvent sanctions; Swiss banks came in handy. Some Swiss banks are ready to work with rubles, although in 2023, due to the tightening of service rules, customers of Swiss banks with Russian passports faced the threat of having their accounts bloc... #circumventionOfSanctions #SanctionsAgainstRussia #SwissBanks #Yakovlev
The EU will direct 90% of the revenue from frozen Russian assets to help Kyiv. Chancellor Olaf Scholz said on Monday that around 90% of the revenues generated from Russian assets frozen in the EU should be spent on arms purchases for Ukraine to boost its defensive capabilities. ... #Euroclear #JosepBorrell #OlafScholz #RussianAssets #RussianAssetsProfits #WeaponsforUkraine
The G7, led by the US, is discussing giving Ukraine $50B secured by profits from the assets of the Russian Federation; there is no longer any talk of confiscation. The US is negotiating with its close partners to provide Ukraine with aid worth up to $50B, with the costs to be repaid with profits from sovereign Russian assets. The US insists on concluding an agre... #Euroclear #G7 #RussianAssetsConfiscation #RussianAssetsProfits #SupportUkraine
The NBU has introduced its largest package of measures to ease FX restrictions. Most changes came into effect on May 4, but the ability to repatriate new dividends will begin on May 13, 2024. It is emphasized that these changes aim to improve the conditions for conducting busines... #AndriiPyshnyi #CurrencyLiberalization #CurrencyMarket #financeUkraine #nbu
Ukraine’s Eurobond holders demand payment resumption next year. A group of foreign bondholders, including BlackRock and Pimco, will pressure Ukraine to resume interest payments on its debt as early as next year. The WSJ notes that the owners of outstanding Ukraini... #BlackRock #DebtRestructuring #Eurobond #Pimco #ukrainebonds #ukrainedebt
The US and Ukraine are working on the necessary conditions for the return of economic aid. US and Ukraine are working on the provision of economic aid, US Ambassador Bridget Brink and USAID Deputy Administrator Isobel Coleman told reporters. According to the law on aid to Ukraine passed at ... #BridgetBrink #financialaidforUkraine #IsobelColeman #USAID #USaidforUkraine
Russia will seize Western assets in retaliation, and the aggressor has other options for its revenge. As Reuters points out, Russia does not have enough Western assets on its territory for proportionate retaliatory confiscation, but it still has ways to retaliate against the West if it dares to seize ... #Euroclear #RussianAssets #RussianAssetsConfiscation #SecuritiesMarket
Germany is offering Ukrainian businesses up to €1M for eco-modernization of their production. The German Society for International Cooperation (GIZ) is launching a new grant program for Ukrainian businesses. Enterprises that want to implement their own production eco-modernization projects are... #BusinessSupport #EcoModernization #Germany #GrantsForBusiness #Khust #ModernizationUkraine
The National Bank has indicated the presence of prerequisites for further reduction of the key policy rate. The NBU sees room for further discount rate reduction after its reduction to 13.5% on April 26, 2024. The condition for the next step is the preservation of favorable macro-financial trends. In partic... #DepositsinUkraineBanks #financeUkraine #KeyPolicyRate #nbu #ukrainebonds
The EBRD provides a guarantee to OTP Leasing to finance Ukrainian small and medium-sized enterprises. The guarantee will cover 50% of OTP Leasing’s new subleasing contracts with a total value of up to €80M. Financing will be provided in two tranches of €40M each, the first of which has already been co... #BusinessSupport #ebrd #investments #OTP #OTPleasing
The first stage of currency liberalization announced by the National Bank will cost Ukraine $5.5B. However, the NBU says it will significantly expand business opportunities, improve the conditions for attracting investment and private capital participation in reconstruction, and, as a result, posit... #AndriiPyshnyi #CurrencyLiberalization #financeUkraine #internationalReserves #nbu
The confiscation of Russian assets will help Ukraine to finance the war at least until the end of 2028. Despite the support from the US, Ukraine needs a medium-term financing plan to repel Russian aggression, and the main source of this financing must be Russia’s frozen assets. There is a high chance th... #RussianAssets #RussianAssetsConfiscation #UkraineBudget2024 #UkraineDefensePurchases #WarinUkraine
The largest European banks increased their contributions to the Russian budget by 300%. The largest European banks that are still operating in Russia paid more than €800M in Russian taxes in 2023, which is 300% more than before the start of the full-scale war. In particular, we are talki... #DeutscheBank #EuropeanBanks #OTPbank #RaiffeisenBank #RussiaBudget
