Weekly digest of news on investment and business development in Ukraine and the world from UkraineInvest

Weekly digest of news on investment and business development in Ukraine and the world from UkraineInvest

The volume of EIB investments in Ukraine reached EUR 7 billion.
Thanks to the cooperation of the Ukrainian side with the EIB, more than EUR 261 million of investment component was attracted to projects in 2023 – twice as much as in 2021 and eight times as much as in 2022. In Ukraine, the volume of the portfolio of joint projects with the European Investment Bank in the public and private sectors has reached the highest level in the history of cooperation, exceeding EUR 7 billion.

Companies will be able to withdraw dividends from corporate rights or shares held abroad from 1 January 2024.
The NBU has set a monthly limit for the repatriation of dividends for periods from the beginning of 2024 at the equivalent of EUR 1 million. Compliance with this rule is monitored by the NBU’s automated information system E-Limits.

The government has modernised the “Affordable Loans 5-7-9%” programme to refocus this type of state support on investment lending.
The Ukrainian Cabinet of Ministers has limited the margins of banks working with borrowers under the programme. This will free up UAH 3 billion for direct lending to businesses. The maximum loan amount for working capital financing has now been reduced to UAH 5 million. However, the limits for investment purposes remain unchanged, particularly for manufacturing companies, at UAH 150 million. In addition, the government has changed the lending limit for the livestock sector, increasing it to UAH 150 million.

The UK is investing £16 million to implement 13 innovative energy projects in Ukraine.
Ukraine and the UK are launching the first 13 innovative energy projects under the InnovateUkraine programme. The projects selected for investment include energy efficiency and heat supply projects, the introduction of innovative battery solutions for renewable energy sources, and innovative technologies to optimise and increase biogas production. The projects will be implemented over the next two years and will be supported to attract further investment and market entry.

M10 Lviv Industrial Park has a new tenant.
M10 Lviv Industrial Park is a modern logistics complex built during the full-scale war in Ukraine, symbolising the resilience and inevitability of Ukrainian business development. The first phase of M10 Lviv Industrial Park in Lviv, a 14,400 sqm Class A warehouse complex, has been commissioned and leased to Aurora Multimarket.

Ukrainian venture capital fund SID Venture Partners announced investments in three start-ups.
The fund has made three new investments in Iris Finance, Vendora and Relari. To date, SID Venture Partners has announced more than 20 portfolio startups. Previously, the fund was recognised as the best investor in Ukraine by Ukrainian Startup Funds and Lift99’s Startup Awards.

The world’s largest logistics company has resumed the liquidation process of its russian subsidiary Maersk LLC.
Danish logistics company A.P. Moller-Maersk Group has resumed the liquidation process of its russian subsidiary Maersk LLC. A.P. Moller-Maersk Group is one of the world’s largest container shipping companies. The company holds around 15% of the total market.

USAID has committed USD 250 million under the new USAID Harvest programme to invest in the future of Ukraine’s agricultural sector.
The United States Agency for International Development (USAID) has launched a USD 250 million Harvest initiative to help Ukrainian farmers expand their exports. The initiative aims to increase agricultural exports by an additional USD 1.5 billion and attract an additional USD 500 million in private investment.

The UK will provide Kyiv with USD 3.74 billion a year “for as long as it takes” – UK Foreign Secretary David Cameron has initiated talks with Ukraine on a “centenary partnership”.
The new agreement will create stronger ties between our countries across the whole spectrum of our relationship, including trade, security and defence, science and technology, education and culture.

The government will provide grants to drone manufacturers in Ukraine.
Drone manufacturers can receive up to 80% of the cost of the submitted project. This funding can be used to purchase, supply or install equipment. In addition, the recipient is required to create a certain number of jobs, depending on the amount of the grant. The preferential financing regime applies to the entire territory controlled by Ukraine.

The United States may provide Ukraine with a further USD 50 billion, a significant portion of which is expected to come from the proceeds of frozen russian assets.
The US is expected to put pressure on the European Union to drop its objections to the use of frozen russian assets. US Treasury Secretary Janet Yellen confirmed that negotiations were underway to provide USD 50 billion to Ukraine.

For the first time, the State Property Fund of Ukraine is putting assets confiscated from russian oligarchs up for sale.
The starting price for the lot – PJSC PentoPack, a manufacturer of packaging for the meat processing industry – is UAH 203.7 million.

Denmark and Canada are ready to finance arms production by the Ukrainian defence industry.
Ukraine is capable of producing more weapons, but additional funds are needed. Denmark and Canada are ready to finance the production of weapons by the Ukrainian defence industry. This is the “Armourers” initiative.

Bankrupt crypto exchange FTX will pay compensation to affected investors.
The bankrupt FTX cryptocurrency exchange plans to pay 98% of affected customers a refund of 118% of their deposits. The total payout will be between USD 14.5 billion and USD 16.3 billion.

Global venture capital investment fell to its lowest level in five years in the first quarter of 2024.
Despite the overall decline in global venture capital investment, cleantech and artificial intelligence (AI) have become the most attractive sectors for investors.

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