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risk for loans that Raiffeisen Bank will issue as collateral to borrowers who meet the established requirements. "Enterprises will be able to get loans to replenish working capital and finance long-term investment projects, which will help to restore the Ukrainian economy, stimulate exports, and create new jobs," believes Oleksandr Pisaruk, Chairman of the Board of Raiffeisen Bank. The DFC has already supported several projects in Ukraine worth a combined $400M. In particular, $250M has been allocated to support the efforts of Ukrainian poultry farmers and grain producers to mitigate the consequences of Russia's war against Ukraine.
BlackRock will launch a fund for Ukraine’s reconstruction at the beginning of next year. In the first quarter of 2024, BlackRock plans to launch its project team (project preparation facility) to reconstruct Ukraine.
Ukraine has sold the assets from nine bankrupt banks for ₴2.63B.
According to the Individual Deposit Guarantee Fund, of this amount, ₴2.2B is being sold for claims on loans and ₴409.8M - real estate, land plots, and other fixed assets.
8.2 Central Bank policy rate
The NBU plans to lower the key policy rate to 15% in December. A majority among members of the NBU’s Monetary Policy Committee expects the discount rate to decrease by one percentage point to 15% in December, the NBU reported. Accordingly, adjustments to other NBU rates that govern bank transactions are also expected. However, panelists generally agree that the scope for easing interest rates in 2024 appears limited for now, given plans for currency liberalization and some expected acceleration in inflation next year. Several members of the Committee suggested that the NBU may revise its discount rate forecast in January’s new forecast cycle in the event of positive changes in the balance of risk for exchange rate stability and price dynamics. The basis for this may be confirmation of regular receipt of international aid, improvement of expectations, and greater than currently expected balance of the foreign exchange market. This development will enable the NBU to lower interest rates further.
92 UKRAINE Country Report December 2023 www.intellinews.com