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
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.”
Polish Prime Minister Donald Tusk signed a decree establishing the council, which will deal with bilateral Polish-Ukrainian relations and Ukraine's reconstruction.
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 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.
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 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 has allocated a loan of 100 million euros ($108 million) to restore housing for Ukrainians, Infrastructure Minister Oleksandr Kubrakov said on March 27.
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.
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.
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 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.
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
The Japanese Foreign Ministry also announced 15.8 billion yen ($105 million) in aid to Ukraine in the form of grants.
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.
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.
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.
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
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,
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.
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.
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
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
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,
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
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
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,
No nation can single-handedly cover all of Ukraine's reconstruction needs, and nor should it be expected to, considering the existence of frozen Russian assets worth billions worldwide. These funds will serve as the primary source for Ukraine’s recovery. To better grasp the situation, it is worth examining the numbers.
Successful economic planning for any nation contains this crucial question: How can we replace imports, which funnel vital capital out of Ukraine, with local production and exports, which bring foreign capital and new employment opportunities to our national economy? With respect to the import and export of energy, this question
STOCKHOLM – As Ukraine’s counteroffensive gets underway, Western countries must help liberate all Ukrainians living under Russian occupation. But Western assistance must not end once Russia is defeated. Ukraine’s supporters must also help its postwar recovery. The Ukraine Recovery Conference in London on June 21-22 is an opportunity to
We reached out to our listeners on Twitter to see what they wanted to be answered on rebuilding, both now and after the war. We received a lot of questions, but most can be boiled down to "how on earth are we going to pay for this?" In this bonus
The Rebuild Ukraine Business Conference convened on Nov. 23 in Toronto while Russia launched yet another massive missile strike all over Ukraine, killing civilians, damaging critical infrastructure, and causing major blackouts across Ukraine and even parts of neighboring Moldova. Organized by the Canada-Ukraine Chamber of Commerce and Business Council of
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