Weekly Digest - UkraineInvest

Regional development agencies to become active participants in reconstruction and further development of regions and communities On October 21, the Cabinet of Ministers of Ukraine approved the new version of the Model Regulation on the Regional Development Agency (RDA). The document will contribute to strengthening the capacity of agencies and making them full participants in the implementation of state regional policy. In accordance with the regulations, the activities of the agencies will be aimed at fulfilling tasks, in particular regarding: development and implementation of strategic and program documents for the development of the region and territorial communities; promotion of socio-economic and cultural development of the region, including investments attraction, product export by enterprises of the region, business and tourism development in the region; provision of consulting and methodological assistance to local authorities on developing strategies for the development of territorial communities, regional development projects, regional and local development programs; preparation and implementation of regional development projects; promotion at the regional level of the European and Euro-Atlantic integration of Ukraine, etc. Source
Hydrogen economy to take an important place in the process of Ukraine’s recovery On October 24, the State Energy Efficiency Agency together with the largest energy community “Energy Club” initiated a discussion dedicated to “Development of the hydrogen economy: from idea to project implementation” among representatives of leading companies from Germany, Denmark, Finland, France, UK. The Ministry of Energy, together with the State Energy Efficiency Agency, drafted a project of the Hydrogen Strategy of Ukraine within a working group. Representatives of the Ministry of Energy and the following companies – “Ramboll”, “Roland Berger GmbH”, “PwC”, “H2 Green Power & Logistics GmbH”, “Air Liquide”, “P2X Solutions”, “Plug Power”, “Regional Gas Company”, “ENGIE” – joined the professional discussion. Already today, Ukraine is focusing on developing the production and use of such energy of the future as hydrogen. It must be sustainable, affordable and safe and has many areas of application, especially for the decarbonisation of industry. However, security and technology remain among the key challenges for project developers. The advantages of developing hydrogen economy for Ukraine are the possibilities of pure hydrogen export, heavy industry decarbonization, prospects of ammonia production from hydrogen. In general, hydrogen energy is one of the ways to reduce dependence on imported fossil fuels for Europe. And Ukraine can take its rightful place in this new hydrogen economy: not only in matters of production, but also in hydrogen export. Source
The European Bank for Reconstruction and Development will allocate up to 3 billion euros to Ukraine On October 24, the European Bank for Reconstruction and Development (EBRD) announced the allocation of up to 3 billion euros during 2022-2023 to assist Ukrainian business and the economy. Since the beginning of the full-scale Russian invasion of Ukraine, the EBRD has allocated more than 1 billion euros and plans to triple this amount by the end of 2023. The main focus will be on suppting energy and food security, restoring railway infrastructure and supporting pharmaceutical industry. The EBRD investments this year include financing for Ukrainian electricity companies, as well as up to 500 million euros to maintain the liquidity of Naftogaz, country’s main gas supplier. The possibility of allocating additional funds for urgent repairs of the electric power system and municipal needs of Kyiv, Lviv and Dnipro is also being discussed. EBRD investments are supported by donor funds or guarantees provided by the USA, the European Union and other countries, including the G7. In particular, Norway has recently allocated 200 million. Source
Ukraine to receive $2 million grant funds within the framework of the “Energy Efficiency of Public Buildings in Ukraine” program On October 25, within the framework of the 5th German-Ukrainian Economic Forum in Berlin, the European Investment Bank (EIB) and the United Nations Development Program (UNDP) signed a Grant Agreement to support the “Energy Efficiency of Public Buildings in Ukraine” program. It refers to the allocation of 2 million euros from the Eastern Europe Energy Efficiency and Environment Partnership (E5R Fund) to the restoration of a number of health care facilities that suffered due to Russian military aggression. The implementation of European practices regarding energy efficiency policy is one of Ukraine’s key priorities. Increasing the energy efficiency of public buildings has been and will remain an important element for ensuring Ukraine’s energy security. Source