Monday, November 15

Payment orders for paying back the debts to RES producers are under threat.

 On November 13th, the Director of Guaranteed Buyer, Kostiantyn Petrykovets, was fired from his position because “signing the payments orders for paying back the debts to RES producers”. Bonds valued at $825 mln at a 6.875% yield to cover debts to RES producers were successfully sold this month. The funds were receipted to Ukrenergo’s accounts on Tuesday November 9th. The next planned step was that the Guaranteed Buyer would transfer funds to RES producers (about 1,200 companies are awaiting payments). However, this has not happened due to the blockage of RES payments and the firing of the Guaranteed Buyer’s Director.

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The newly-elected Chancellor, Olaf Scholz, is ready to support Ukraine’s move towards EU membership. The coalition agreement of the new German government contains a clause stating its readiness to support Ukraine’s movement towards membership in the European Union. The agreement reads, “We will work together with the EU and its Member States to further develop the Eastern Partnership and a market economy. It is also noted that the German government will continue to assist Ukraine in restoring its full territorial integrity and sovereignty”.

A senior EBRD delegation is starting a week-long trip to Ukraine to meet with the country’s authorities and private sector companies. The delegation will include Alain Pilloux, the Vice President of Banking and in charge of Bank lending; and Mark Bowman, the Vice President for Policy and Partnerships.  The visit is to reconfirm the EBRD’s support for Ukraine, its reform agenda, and sustainable development. Discussions will focus on the decarbonization of the Ukrainian economy in line with the country’s updated Nationally Determined Contribution, the development of sustainable infrastructure, and the investment