Current news on Rebuild Ukraine topic

Ukraine Could Become Eastern Europe’s Gas Hub Through Production Growth.

According to Deputy Energy Minister Mykola Kolisnyk, increasing domestic gas production is a key factor in reducing Ukraine’s dependence on global markets and enhancing its capacity for a stable heating season. Furthermore, Ukraine has a real prospect of becoming Eastern Europe’s gas hub.

Kolisnyk noted that the production increase has been made possible through equipment modernization, new technology implementation, strengthening the security of gas extraction sites, introducing new legislative initiatives to support the industry, and attracting investments.

Notably, Naftogaz Group companies produced over 11 billion cubic meters of gas from January to September 2024, an increase of 0.7 billion cubic meters compared to the same period last year. Recently, Ukrgasvydobuvannya boosted a well’s output from 70,000 cubic meters to 170,000 cubic meters per day using dual-production technology, which allowed for the development of an additional gas horizon. Applying this technology to other wells is expected to yield over 50 million additional cubic meters of gas by year-end.

Ukraine Negotiates with China to Open Market Access for Seven Types of Agricultural Products.

Ukraine is in talks with China to open export markets for peas, wheat flour, animal feed, beef, corn, poultry, and wild-caught aquatic products. Documents for each product are at various stages of review and approval.

Currently, the protocol for peas is in the final stage of domestic approval in Ukraine, with texts submitted to the relevant Chinese authority. Draft protocols for poultry and fish exports are also under review by Chinese authorities.

The protocol for wild-caught aquatic products has completed domestic approvals and is awaiting final confirmation from China. Additionally, protocols for beef and animal feed are undergoing domestic review.

The most recent market opened for Ukrainian producers in China was the honey market earlier this year.

The National Bank of Ukraine Updates Forecast for Key Macroeconomic Indicators.

The National Bank now forecasts Ukraine’s real GDP to grow by 4% in 2024 (up from the July forecast of 3.7%). In 2025, the economy is expected to grow by 4.3% (previously 4.1%) and by 4.6% in 2026 (previously 4.8%).

NBU Governor Andriy Pyshny noted that significant budgetary support, backed by substantial international funding, increased household incomes, expanded agricultural output, and steady external demand will drive continued economic growth of 4.3–4.6% in 2025–2026.

However, the National Bank has revised its inflation forecast for 2024 upward to 9.7% from the previous estimate of 8.5% in July. Inflation is projected at 6.9% in 2025 (previously 6.6%) and is expected to decline to 5% in 2026.

The European Bank for Reconstruction and Development (EBRD) will provide €300 million for the purchase of electric locomotives for Ukrainian Railways (Ukrzaliznytsia).

The EBRD has agreed to a €300 million loan to help upgrade Ukrzaliznytsia's fleet with 50 dual-power electric locomotives. Additionally, with grant funding from the World Bank’s project “Restoration of Critical Logistics Infrastructure and Network Connectivity” (RELINC), Ukraine will be able to purchase another 30 electric locomotives for a total of $190 million. According to government officials, the Single Investment Project Portfolio (SPP) allows the mobilization of partner resources for priority projects.

Ukrzaliznytsia’s head, Oleksandr Pertsovskyi, emphasized that, alongside upgrading the locomotive fleet, implementing a distributed power generation system on the railways is essential to address winter electricity shortages.

The parties have agreed to finalize the project timelines shortly.

The Kyiv School of Economics (KSE) and the Ministry of Economy Seek Investors for €2.1 Billion in Projects via Digital Investment Portal.

Ukraine's investment portal, developed by the Ministry of Economy and the Kyiv School of Economics with support from the UK government, now features 31 new projects totaling €2.1 billion. These initiatives, proposed by both private and state companies, span various sectors including energy, agriculture, engineering, transport and logistics, “green” metallurgy, and construction materials production. Geographically, the projects are spread across 13 regions in Ukraine, with the largest concentration in Lviv, Dnipropetrovsk, and Kyiv regions.

The Ministry of Economy highlighted the portal’s expansion to offer more business opportunities in Ukraine. Both private and state companies are encouraged to submit projects, which are reviewed before being posted on the platform.

The portal now hosts 126 projects, with a total value of $28.9 billion. It also includes a section with practical advice for entrepreneurs seeking funding, including resources from the government, international organizations, and partner banks.