World Bank

Russia presented the BRICS Bridge project as an alternative to SWIFT at the Kazan summit. China, India, and other BRICS countries show little practical interest amid the risk of secondary U.S. sanctions.

The BRICS summit in Kazan brought together world leaders, including Xi Jinping and Modi. Russia is seeking to form an alliance of developing countries to counter Western dominance.

The US may provide Ukraine with up to $20 billion from the proceeds of frozen Russian assets. The G7 countries are negotiating the structure of a $50 billion loan agreed in June 2024.

The President of Ukraine has signed a law amending the Customs Code to implement EU regulations. The law provides for the introduction of the European model of customs representation and expansion of opportunities for AEOs.

The President of Ukraine has signed a law expanding the possibilities of privatizing state-owned banks. The document is aimed at reducing the state's presence in the banking market and updates the rules for selling banks.

Zelenskyy signed a law on rebooting customs. It provides for an annual external audit and salary increases for employees.

The island nation of Sri Lanka has announced its application to join the BRICS. The application will be officially submitted during the BRICS summit in Kazan on October 23-24.

The World Bank Board of Directors has approved the establishment of a $10 billion special financial trust fund for Ukraine. The funds will be used to support the budget and critical recovery needs.

The World Bank Board of Directors has approved the establishment of a Financial Intermediary Fund for Ukraine. The Fund will receive funds from the United States, Japan, and Canada.

The Prime Minister of Ukraine held an online meeting with the Managing Director of the World Bank. The parties discussed damage assessment, recovery priorities and reforms, in particular, housing market reform.

The Cabinet of Ministers has approved the composition of a six-member competition commission to select the director of the Bureau of Economic Security. Three members of the commission are from the government and three are from international partners.

Ukraine plans to create a €16 billion investment fund to support communities and businesses affected by the war. The fund will be part of the Ukraine Facility program and will be financed by international financial institutions.

U. S. Deputy Treasury Secretary Brent Nieman criticized the IMF's work. He called for more transparency, tougher analysis, and changes in the voting of the Fund's shareholders.

The law is a condition for receiving funding from the World Bank.

The criminal case against Oleksandr Zyma, the NBU's chief lawyer, may negatively affect cooperation with the IMF. Experts call for personnel changes to restore the trust of international partners.

The Verkhovna Rada has adopted a draft law on the privatization of state-owned banks. The law expands the range of investors, allows the sale of any state share and updates the rules for holding an auction.

The United States has seen a sharp increase in enriched uranium imports from China since the end of 2023. It is suspected that China is helping Russia to circumvent sanctions by supplying Russian uranium under the guise of Chinese uranium.

The government plans to submit a new draft law on public procurement to the Rada with a number of important changes. New deadlines, a ban on procurement from certain countries, simplified procedures and other innovations are proposed.

The Ministry of Finance reported $98. 7 billion in direct budget support from donors since February 2022. The funds are allocated for social, humanitarian and priority non-military budget expenditures.

Minister Kuleba made his first ever visit to Mauritius. They discussed support for Ukraine, the Peace Formula and prospects for economic cooperation between the two countries.

The IMF requires an open competition for the position of the DGF director, but the authorities can appoint the head in a closed mode. Experts warn that ignoring the IMF's requirements could lead to the loss of critical financial assistance.

The war has changed the requirements for school construction in Ukraine. The new facilities are equipped with shelters, warning systems and enhanced fire safety, allowing students to return to full-time education.

Ukraine received $3. 9 billion from the US and expects €4.2 billion from the EU under the Ukraine Facility program. Prime Minister Shmyhal said that the funds will be used for non-military budget expenditures and social obligations.

A new batch of humanitarian aid from Ukraine has arrived in Mauritania. 538 tons of vegetable oil provided with the support of Finland and WFP will provide food for the poor and refugees in the Mbera camp.

Ukraine received the first tranche of direct budget support from the United States in 2024. The funds will help finance priority budget expenditures, including salaries for teachers, doctors and rescuers, and social benefits.

The Minister of Finance of Ukraine has signed an agreement on a $3. 9 billion grant from the United States. The funds will be used to pay salaries to teachers, employees of the State Emergency Service, government agencies, and social benefits.

The government plans to raise the military tax for mobile operators to 5%. Operators consider this a step backwards in terms of accessibility and warn of a possible rise in prices.

Ukraine fulfilled the conditions for receiving a tranche from the EU in September. The government is also attracting a grant from the US for salaries and social programs through the World Bank.

Prime Minister Denys Shmyhal said he met with a World Bank delegation to discuss priorities, including rapid recovery, energy and the confiscation of frozen Russian assets, and expressed confidence in this year's efforts to make next year predictable and stable.

The Cabinet of Ministers has allocated an additional UAH 1. 9 billion in grants from the World Bank to restore heating in Kharkiv by the next winter season.