Ukraine: Oschadbank raises EUR 8 million and UAH 50 million from GUF to finance micro, small and medium business

State-controlled Oschadbank (Kyiv) has attracted credit resources from the German-Ukrainian Fund (GUF) in the amount of EUR 8 million and UAH 50 million to finance micro, small and medium-sized businesses. According to a bank press release, the parties signed the relevant credit agreements within the framework of the memorandum on strategic partnership and cooperation on…

Ukraine: Kherson region to get $250 million worth of investments due to new alternative energy facilities

In 2017, Kherson region is expected to raise investments worth $250 million thanks to building new alternative energy facilities within its area, Kherson Regional State Administration Head Andriy Hordeyev has stated in a report on the administration’s management performance for 2016. “In 2017, thanks to new energy facilities, we expect to reach 250 megawatts of…

Ukraine: Sberbank to be renamed Norvik Banka

Once the sale of Sberbank of Russia’s subsidiary in Ukraine is closed, the bank will be renamed Norvik Banka. “The bank will be renamed. By all appearances, its name will be Norvik Banka, because it will be a subsidiary of European bank Norvik Banka,” Russian-born businessman Grigory Guselnikov said. The change in the bank’s brand…

Ukraine: cranberries and bilberries exports up in 2016

Ukraine exported 2,900 tons of cranberries and bilberries in 2016, up 3.3-fold YoY, Ukraine’s Agricultural Policy and Food Ministry has reported. The largest importers of Ukrainian berries were Poland (1,400 tons), the Netherlands (613 tons) and Belarus (541 tons). In general, exports of cranberries and bilberries brought $6.9 million of currency income last year. The…

Ukraine: goods exports down in 2016

In 2016, the exports of goods from Ukraine totaled $36.4 billion, a decrease of 4.6% compared with 2015 (down by $1.8 billion), the Ministry of Economic Development and Trade of Ukraine reported. According to the announcement, there was a significant slowdown in the rates of exports falling in comparison with the beginning of 2016. In…

Belarus: Bobruisk-made tractors on display in UK

The first presentation of Belarus compact tractors made at the Bobruisk Plant of Tractor Parts and Units took place at Junction 24, one of the largest livestock markets of the UK Sedgemoor Auction Center. The presentation of Belarusian products was organized by the Banwell-based company Belarus Tractors Ltd. Since 2016, this company has been the…

Tajikistan: EBRD office new head appointed

The European Bank for Reconstruction and Development (EBRD) has appointed Ayten Rustamova the bank’s new head of office in Tajikistan, said the message on EBRD’s website. Ayten Rustamova will be based in Dushanbe, where she replaces Richard Jones who has returned to EBRD London headquarters. The EBRD also has a second office in the country,…

Kyrgyzstan: new categories of taxpayers to be created

The State Tax Service of Kyrgyzstan is preparing anti-corruption amendments to tax legislation, suggesting new categories of taxpayers, the press service of the department reported. As noted, it is planned to introduce new categories – “individual labor activity” and “individual entrepreneurial activity.” This will eliminate the risk of applying corruption measures to them. To reduce…

Ukraine: milk production down in 11 years

In 2005-2016, the milk production in Ukraine fell by almost 25%, Mykola Kovalsky, the marketing and communications director of the Astarta agro-industrial holding said. “In 2005-2016, the milk production in Ukraine fell by almost 25%, while the cow population in our country decreased by more than 45%,” Mykola Kovalsky said. The State Statistics Service of…

Tajikistan: Pamir Energy Company among international finalists for the 2017 Ashden Award

Pamir Energy Company is one of the international finalists for the prestigious Ashden Award. The 2017 Ashden Award judges have reportedly narrowed down the finalists for this year’s Awards to 22 impressive organizations, covering what they consider to be the best in sustainable energy around the world. International finalists are truly global, with projects in…

Uzbekistan: Karakalpak and Khorezm entrepreneurs to get rebates

On March 17, President Shavkat Mirziyoyev signed the resolution ‘On additional favorable conditions for entrepreneurial activity in Karakalpakstan and Khorezm regions’. The resolution aims at boosting economy, supporting entrepreneurs, nudging exports, and implementing investment projects in the two regions. Legal entities registered and doing business in Karakalpakstan and Khorezm are exempt from compulsory sale of…

Kyrgyzstan: construction of 2 pedestrian overpasses in Bishkek estimated at 37 million soms

Construction of two pedestrian overpasses in Bishkek was estimated at 37,99.5 million soms, State procurement portal reported. Pedestrian overpasses are planned to be built on Shabdan Baatyr (nearby Madina market) and Kurmanjan Datka Streets (Alamedin complex). Funds for construction are allocated from the city budget. Each of the overpasses will cost more than 18 million.…

Kazakhstan: housing construction up in 2016

Housing construction considerably increased in Kazakhstan in 2016. As much as 89,400 new apartments were built in the country in the past year. It is the highest level in all the 25 years of Kazakhstan’s independence. The previous highest rate in housing construction was recorded in 1991, when 84,500 apartments were built in Kazakhstan. The…

Ukraine: court obliges government to resume consideration of Yuzgaz’s application on Yuzivska field

Kyiv’s district administrative court has declared unlawful the decision of Ukraine’s Cabinet of Ministers not to allow Yuzgaz B.V. (the Netherlands) to participate in the product sharing agreement (PSA) on the Yuzivska field (Kharkiv and Donetsk regions) and obliged the government to resume the consideration of the company’s application. The court ruling was published in…

Ukraine: FUIB finishes 2016 with profit

First Ukrainian International Bank (FUIB) finished 2016 with a net profit of 367 million UAH. At the same time, bank’s operating profit amounted to 1.8 billion UAH. The bank reduced allocations to reserves more than 3.5-fold, from 4.8 billion UAH in 2015 to 1.3 billion UAH in 2016. According to the results of 2016, FUIB’s…