Economics

Turkey's Baykar, the manufacturer of Bayraktar TB2 unmanned combat aerial vehicles, is investing $100 million in three projects in Ukraine, among them the construction of a drone production plant that will be completed in one-and-a-half years. Haluk Bayraktar, CEO of Baykar, said this at the First International Defense Industries Forum in Kyiv, according to an Ukrinform correspondent. "We have three main investments in Ukraine. One of them is a factory. Then we have a service center and also we have a headquarters office in here. […] This investment, which is around $100 million, has already started. The construction has already…

The 67th General Conference of the International Atomic Energy Agency (IAEA) approved a resolution that calls for the Zaporizhzhia nuclear power plant (NPP) to be immediately returned to the full control of Ukraine. The Ministry of Energy of Ukraine reported this on its website, according to Ukrinform. “At the 67th IAEA General Conference, 69 countries supported the resolution on nuclear safety in Ukraine. The resolution was proposed by Canada, Finland and Costa Rica. Among other things, it calls on the Russian Federation to immediately withdraw all military and other unauthorized personnel from the ZNPP and for the plant to be…

Ukrenergo has already attracted more than a billion dollars from Western partners to restrore Ukraine’s energy infrastructure, but the operator may still need several hundred million have the grid fully restored. That’s according to Volodymyr Kudrytskyi, CEO Ukrenergo, who spoke in an interview with Hromadske Radio, Ukrinform reports. "We have already financed most of our needs, I think that several hundred million more may be needed in order not only to restore the objects to their previous condition but also to rebuild them in a more modern format," the official emphasized . Read also: G7 Ambassadors inspect progress in repair…

The United States Agency for International Development (USAID) provides Ukrainian agricultural enterprises with 12,000 tonnes of fertilizers for autumn sowing campaign. As an Ukrinform correspondent reports, aid in the form of fertilizers worth $5 million was provided by the Ministry of Foreign Affairs of the Republic of Korea. Mineral fertilizers will be provided to 12,000 micro, small and medium-sized agricultural producers through the USAID Program for Agrarian and Rural Development (AGRO). Each program participant will be able to receive 1 tonne of nitroammophoska (NPK 16:16:16/15:15:15) for main and post-sowing application through the State Agrarian Register. "The war that Russia declared…

Minister of Energy of Ukraine German Galushchenko discussed mechanisms for ensuring the safe operation of the Zaporizhzhia NPP after its de-occupation at a meeting with U.S. Secretary of Energy Jennifer Granholm. “The parties discussed the current situation at the Russian-occupied Zaporizhzhia NPP and the need to develop mechanisms to ensure nuclear and radiation safety after its de-occupation,” the Ministry of Energy of Ukraine reports. In addition, the ministers discussed cooperation to strengthen Ukraine's energy security and independence in the face of Russian military aggression. Galushchenko also informed his colleague about the current state of Ukraine's energy system and preparations for…

Prime Minister of Ukraine Denys Shmyhal and President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso discussed joint initiatives, in particular in the field of energy. "The European Bank for Reconstruction and Development is one of Ukraine’s most important partners. I am glad to welcome EBRD President Odile Renaud-Basso and her team to Kyiv," Shmyhal posted on Facebook. Shmyhal noted that "the EBRD undertook to invest EUR 3 billion in our country within two years. The Bank's support allows us to ensure the stability of work in the field of critical infrastructure and the private sector." "We…

The energy chiefs of Ukraine and the USA discussed cooperation in the nuclear industry and ensuring nuclear and radiation safety. Minister of Energy Herman Galushchenko of Ukraine held a meeting with his U.S. counterpart Jennifer Granholm within the framework of the 67th session of the IAEA General Conference in Vienna. The parties discussed cooperation to strengthen Ukraine's energy security and independence in the face of Russian military aggression. Read also: Energy ministry: Ukraine needs IAEA’s assistance in preserving functionality of nuclear plants In this context, Herman Galushchenko noted the significant importance of the development by Westinghouse Electric Sweden AB with…

Ukraine's needs for fast recovery remain at the level of $15 billion. "Ukraine's needs for fast recovery remain at the level of up to $15 billion. This year, only a part of the needs has been financed, the rest of the expenses are transferred to 2024," Prime Minister Denys Shmyhal said at the Cabinet’s meeting, Ukrinform reports. According to him, the authorities count on support from international financial organizations and agencies, including the World Bank, EBRD, EIB, USAID, and the Japan International Cooperation Agency. Earlier, the Head of Government emphasized that Ukraine was considering 10 key aspects of Ukraine's restoration,…

In the 2023/2024 marketing year (MY) (from July 1 to September 22, 2023), Ukraine exported 6.038 million tonnes of grains and legumes. According to Ukrinform, the Ministry of Agrarian Policy and Food reported this. Thus, according to the published data, in the current MY Ukraine has already exported 2.9 million tonnes of wheat, 596,000 tonnes of barley, 600 tonnes of rye, and 2.5 million tonnes of corn. For comparison, in the same period of 2022/2023 MY Ukraine exported 7.2 million tonnes of grains and pulses, including 2.5 million tonnes of wheat, 622,000 tonnes of barley, 2,600 tonnes of rye, and…

Three more ships are moving along the temporary corridor toward Ukrainian ports. They will be loaded with agricultural products and ore. The Ministry for Communities, Territories and Infrastructure Development of Ukraine reported this, Ukrinform saw. "The bulk carriers Azara, Ying Hao 01, and Eneida have confirmed their readiness to use the temporary corridor for civilian vessels and are moving towards the ports of Pivdennyi and Chornomorsk," the statement said. After loading more than 127,000 tonnes of Ukrainian agricultural products and iron ore, the vessels will set sail for China, Egypt, and Spain. Read also: Second grain ship leaves Ukrainian port…