Germany will provide Ukraine with 45 million euros for energy restoration
Germany will provide Ukraine 45 million euros ($48 million) in the form of a grant for energy restoration, the Ukrainian Energy Ministry announced on May 9.
Reconstruction
Ukraine is facing a cement crisis: Could a deal between two cement giants worsen the situation?
As Russia’s war drags on, it’s still early days for Ukraine’s reconstruction but issues are already lurking around one crucial component: cement. Rebuilding Ukraine after the war, which is unlikely to end any time soon and will continue to cause widespread destruction, is expected to cost $487
Opinion: The REPO Act hasn’t won the war for Russian assets
U.S. President Joe Biden signed the Rebuilding Economic Prosperity and Opportunity for Ukrainians (REPO) Act on April 24. Largely overshadowed in the media by the groundbreaking approval of $61 billion in aid for Ukraine that same day, the REPO Act is equally crucial. However, the REPO Act has not
Ukraine says close to $500,000 in reconstruction funds for Borodianka 'disappeared'
After an audit, there was a discrepancy of Hr 14 million (around $353,000) related to plastic-metal windows, which were earmarked for installation but never actually put in. The State Audit Service said local governments should "ensure more thorough control" over reconstruction funding and added that the case had been referred to the Prosecutor General's Office to determine whether criminal wrongdoing had occurred.
Swiss parliamentary committee backs proposal to send $5.5 billion in aid to Ukraine
While the proposal must still get through more legislative steps before becoming law, it was supported by lawmakers from both center-right and center-left parties.
Ukraine Business Roundup — Is Ukraine’s reconstruction actually happening?
The following is the April 23, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukrainians cautiously celebrated the House finally passing further aid to Ukraine last Saturday. The moment was bittersweet — how
Zelensky: Russia must pay a 'painful price' as 'sole culprit of this war'
President Volodymyr Zelensky has said Russia must pay a “painful price” for its war in Ukraine and frozen Russian assets should be utilized to help Ukraine’s fight against “terror.”
Poland establishes council for cooperation with Ukraine
Polish Prime Minister Donald Tusk signed a decree establishing the council, which will deal with bilateral Polish-Ukrainian relations and Ukraine's reconstruction.
Mayor: Russia's war causes at least $2.9 billion in damages to Mykolaiv
Russian attacks on the southern city of Mykolaiv have caused at least $2.9 billion in damages, Mykolaiv Mayor Oleksandr Senkevych told reporters at the International Mayors Summit outside Chisinau, Moldova, on April 11.
Switzerland plans to budget $5.5 billion to help Ukraine's economic recovery
Switzerland plans to allocate 5 billion Swiss francs ($5.5 billion) to support Ukraine's economic development and reconstruction by 2036, the Swiss Federal Council announced on April 10.
Ukraine launches digital war damages register as basis for future reparations
Ukrainians whose property has been destroyed or damaged by Russia can now submit applications for compensation via an international digital register, which will be used "as the basis for future reparations" from Russia, Digital Transformation Minister Mykhailo Fedorov announced on April 2.
Japan provides Ukraine with $118 million grant for healthcare, reconstruction
Japan provided Ukraine with $118 million in aid as part of two World Bank projects, Ukraine's Finance Ministry reported on April 1.
Council of Europe Development Bank to lend almost $110 million to Ukraine for housing
Council of Europe Development Bank has allocated a loan of 100 million euros ($108 million) to restore housing for Ukrainians, Infrastructure Minister Oleksandr Kubrakov said on March 27.
The Guardian: EU to propose funneling billions in profits generated by Russian assets to Ukraine
The commission's officials plan to put forward a "legally robust proposal" for consideration by the member states, possibly before a meeting of prime ministers on March 21, the outlet said.
US State Department, German Marshall Fund want to rebuild sustainable Ukrainian cities
The U.S. State Department and German Marshall Fund established a public-private initiative to assist in rebuilding up to three Ukrainian cities, with a focus on sustainability.
France invests 5 million euros in reconstruction of Chernihiv Oblast
Ukrainian officials signed an agreement with France to invest over 5 million euros towards the reconstruction of Chernihiv Oblast, Ukrainian infrastructure minister Oleksandr Kubrakov announced on March 4.
Denmark announces additional $1.4 million for Ukraine’s reconstruction
Denmark is allocating an additional 10 million Danish kroner (around $1.4 million) to support Danish-Ukrainian municipal cooperation on the reconstruction of Ukraine, the Danish Foreign Ministry announced on Feb. 29.
Ukraine Business Roundup — February 20
The following is the Feb. 20, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Tokyo summit Japanese and Ukrainian representatives met in Tokyo on Feb. 19 to foster dialogue between both government
Shmyhal: Japan to allocate $1.3 billion to support Japanese investors in Ukraine
The Japanese Foreign Ministry also announced 15.8 billion yen ($105 million) in aid to Ukraine in the form of grants.
PM Shmyhal: Ukraine, Japan sign 56 documents on cooperation, reconstruction
The newly finalized documents include an intergovernmental convention to avoid double taxation, an important step for Japanese business projects in Ukraine. The two governments also signed a memorandum of cooperation in education and technology.
Shmyhal-led delegation arrives in Tokyo for Ukraine reconstruction conference
The Japan-Ukraine Conference for Promotion of Economic Growth and Reconstruction, expected to gather around 300 people and 80 companies, aims to foster dialogue between government officials and business sectors from both countries.
World Bank: Ukraine's recovery costs rise to $486 billion
This figure, based on data gathered between Feb. 24, 2022, and Dec. 31, 2023, is 2.8 times higher than Ukraine's nominal gross domestic product (GDP) for last year, the report noted.
Ukraine wants to make reconstruction transparent. Will it work?
Inside a bare apartment littered with concrete blocks and slabs of plywood, construction site manager Serhiy Yerokhin points to a large balcony overlooking the treetops of Irpin, a suburb outside of Kyiv occupied and heavily damaged during the first month of Russia's full-scale invasion. Almost two years ago, a missile
Everyone talks about investing in Ukraine, but few are doing it
Despite its economy steadily improving from the first months of the full-scale invasion, very little foreign capital is currently trickling down to Ukraine’s private and public sectors. Money from international financial institutions has helped stabilize the economy, bolstering forecasts of 3.2% gross domestic product (GDP) growth this year,
EU, IFC to mobilize over $530 million for Ukraine's private sector recovery
This is part of the IFC's Better Futures Program that aims to mobilize over 500 million euros ($537 million) across sectors, including infrastructure, goods production, decarbonization, and job preservation.
Portugal, Ukraine sign memorandum on restoring Ukrainian schools
Portuguese officials visited the third international forum on the reconstruction of Zhytomyr Oblast and signed a Memorandum of Understanding on rebuilding Ukrainian schools affected by the war, Portugal’s Foreign Ministry reported on Feb. 5.
Reconstruction in Kyiv suburb sabotaged by local officials, discouraging foreign investors
In a dark corner of his makeshift shack, Oleksandr Mazay unveils a hand grenade wrapped in a dirty blanket. He smiles and pulls the pin. Fortunately, the explosive is rusted and inactive. Once belonging to a Chechen soldier, Mazay kept the grenade as a reminder of the brutal occupation he
‘We can't wait for peace:’ Reluctant at first, Denmark takes on rebuilding war-torn Mykolaiv Oblast
When President Volodymyr Zelensky announced to the Danish Parliament last March that Ukraine wanted the Nordic country to rebuild the war-torn southern Mykolaiv Oblast, it was the first the Danes had heard of it. Not only was the president’s plan to assign Ukrainian regions to allied countries for reconstruction
‘We have to speed up:’ European Investment Bank head Hoyer calls for swift reconstruction of Ukraine
Werner Hoyer, the head of the European Investment Bank (EIB), and its vice-president Teresa Czerwinska visited Kyiv on Nov. 27 to announce a new 450-million-euro package ($493 million) to Ukraine and inaugurate the bank’s new regional hub in the capital. The sum, approved by the EIB on Nov. 15,
‘It takes bravery to recognize mistakes:’ Ukrainian architects learn from Rotterdam to rebuild their own cities
When the Russian invasion of Ukraine forced urbanists Oleksandra Naryzhna and Anastasiia Palii to leave Kharkiv in March 2022, the Dutch city of Rotterdam was an obvious choice for a temporary home. It’s a place that provides Ukrainian urbanists and architects with “a lot of opportunities,” Palii told the
International Finance Corporation Europe Director ‘optimistic’ Ukraine can attract private investment to rebuild
In order to rebuild the country following Russia’s brutal invasion, Ukraine will have to attract billions to its private sector. The International Finance Corporation (IFC) — the investment arm of the World Bank — believes that if Ukraine manages to reform some of its key sectors and liberalize its markets, it
Kenneth Rogoff: Europe must lead Ukraine’s reconstruction
CAMBRIDGE – Who should pay for Ukraine’s postwar reconstruction? Shortly after Russia’s invasion, my co-authors and I estimated that it would cost roughly €200-500 billion ($220-550 billion) to rebuild the country and called for Europe to spearhead the recovery effort. After more than 500 days of death and destruction,
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