Ukraine News Updates - June 5, 2024
Whether it's updates on reconstruction efforts, trade and economic news, shifts in the legal and regulatory landscape, or insights into innovative tech companies, "This Week in Ukraine" keeps you informed on critical developments in Ukraine.
Newsletter Highlights:
Ukraine Defaults on GDP Bonds
S&P Global declared Ukraine in default on GDP-linked securities after missing a $665 million payment on June 2. The rating was downgraded from CC to D. Ukraine suspended payments on unrestructured commercial obligations as part of broader debt restructuring efforts under the IMF program.
The UK Tenfold Drone Investment Ukraine
The UK is investing 350 million pounds this year to increase drone deliveries to Ukraine from 10,000 in 2024 to 100,000 in 2025. The investment is part of a 4.5 billion-pound military support package. Read more
First EU Export Credit Deal with Ukraine
European Investment Fund and Danish agency EIFO signed Ukraine's first EU export credit guarantee agreement, providing 20 million euros in funding. This agreement enables 40 Danish companies to strengthen their Ukrainian market presence. It is the first of 13 planned agreements across EU member states under the InvestEU program. Read more
Ukraine Launches International Weapons Co-Production Initiative
Ukraine's Defense Minister announced a new international initiative for the licensed production of Ukrainian weapons in partner countries within the Ramstein format. Partners will finance facilities producing drones, missiles, and ammunition for the Ukrainian military. Several projects with European and North American companies are underway, including access to 150 billion euros of EU defense funding. Read more
Ministry Opens Industrial Parks Funding Applications
Ukraine's Ministry of Economy begins accepting applications for industrial park co-financing through August 15. The state allocates 500 million hryvnias for 2025, providing up to 150 million hryvnias per applicant with a 50% co-financing requirement. Read more
Ukraine's State Debt Hits $180 Billion
Ukraine's state debt reached $179.97 billion in April 2025, growing 5% monthly and 8.4% since January. Growth is primarily attributed to a $13.1 billion increase in EU debt due to the euro strengthening against the dollar and G7 ERA financing backed by frozen Russian assets. Read more