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dividend payments to budgets of all levels totalled nearly UAH121.4bn,” the company said.
Ukraine’s cabinet approved on August 17 the conditions of the loan it plans to take from Cargill Financial Services International​, the government’s website reported the same day. Based on the approved resolution, Ukraine will borrow from Cargill up to €250mn – split into 3Y and 5Y loan tranches – at an annual rate of 5.95% and 6.85%, respectively. “The conditions under Cargill’s private loan look close to market rates, taking into account that Ukraine’s public six-year debt (EUR-denominated Eurobond maturing in June 2026) trades currently at 6.61% YTM. The loan will allow Ukraine to partially compensate the large foreign currency debt outlays of August-September, which amount to about $3bn,” Alexander Paraschiy of Concorde Capital said in a note.
6.1.4​ Budget dynamics - privatization
The Zelenskiy government is tripling the number of state companies protected from privatization – to 659.​ The Cabinet of Ministers approved the new list Wednesday. It will now go to the Rada. Last year, the Rada abolished a similar list of over 1,000 companied exempt from privatization.
Only 300 of the more than 3,000 state-owned enterprises are to remain in state management, ​while others will be subject to privatization, Ukraine's Prime Minister Denys Shmyhal said on August 13.
"There are more than 3,000 state-owned enterprises in Ukraine, and not a single Ukrainian government has been able to effectively manage such a large number of enterprises... That is why we are now in the final stages of drafting a bill that will determine the list of facilities to remain under state control. Our strategy is to leave about three hundred companies," said Shmyhal during a government meeting on Wednesday.
Until the coronavirus pandemic started, several foreign investor groups had planned to come to Ukraine this summer to study state companies scheduled for sale. Dmytro Sennychenko, head of the Property Fund, estimates that about half of Ukraine’s 3,000 state companies are bankrupt and will be liquidated. The others will be sold at public, electronic auctions, largely as is.
To help foreign investors, the Fund has set up a bilingual Ukrainian-English website with ‘data rooms’ on each property up for sale. To speed the sale of distilleries from Ukrspirt, the state alcohol producer, the Cabinet of Ministers yesterday passed a key package of regulations setting sale conditions.
Shmyhal added that the enterprises working in the national security, energy, natural monopolies fields, and the enterprises of social importance would continue to be state-run.
On March 7, 2018, a law on privatization came into force in Ukraine, aimed at simplifying the procedure for transferring state property to private hands, fighting corruption and strengthening the protection of investors' rights.
The document divides all objects of denationalization into two groups. The first includes objects of small privatization - assets of state and municipal property,
41​ UKRAINE Country Report​ September 2020 ​ ​www.intellinews.com