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14 December 1998
For immediate release
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Ukrainian Ambassador Meets With W. Tailor, US State Dept's Coordinator Of The US Assistance To The NIS

Ambassador Anton Buteiko held a meeting with US State Department Coordinator of assistance to the new independent states W. Tailor. During the meeting the parties discussed some topical issues of Ukrainian-American economic cooperation. The Ukrainian envoy was reported to have stated his country's stance on this saying Ukraine seeks to earn money on its own, rather than beg for it. In this context, Ukraine expects the USA to facilitate marketing Ukrainian commodities in America and grant Ukraine the MFN status in trade with the USA. The meeting's another focal point was work under way to implement the Sea Launch multinational space project. Messrs. Buteiko and Tailor also discussed in great detail issues relating to US financial aid to Ukraine in 1999, particularly meant to trop up the US-Ukrainian joint project Kharkivan Initiative, prospective transportation of "big Caspian oil" across Ukraine, and other issues of mutual interest.


United States To Increase Investment In Ukrainian Agricultural Sector If Administrative Barriers Are Lifted

The United States intends to increase its investment in the Ukrainian agricultural sector if the existing administrative barriers are lifted, US Ambassador Steven Pifer told DINAU on December 11.

Mr. Pifer disclosed that a total of $ 400 million out of the planned $ 2.5 billion has thus far been invested in the Ukrainian agricultural sector. He attributed the slow pace of American investment in the sector to economic instability in Ukraine and the country's complicated investment mechanism. He added that the USAID encounters difficulties when implementing United States government programs. If the existing investment barriers are lifted, American investors will invest in the Ukrainian agricultural sector, particularly in the western regions of Ukraine, Mr. Pifer said. He added that the number of American volunteers is also expected to increase.

Ukrainian-American JV I.B.E. Rokyta Reported Contemplating Scheme To Boost Manufacture Of Grain Combine Harvesters

As DINAU reported from Lutsk on December 14, the Ukrainian-American joint venture I.B.E. Rokyta is contemplating a project which it believes as likely to revive and boost domestic manufacture of grain combine harvesters of the Lan and Slavutych families. The project is said to basically rely on a major Western investor and individual savings of Ukrainian nationals. If the scheme materializes in full, several million new jobs will appear, Feofan Muzyka, the JV's CEO, disclosed at a press conference in Lutsk. The project has gained support from several MPs, and VR Chairman Oleksandr Tkachenko reportedly articulated his favorable interest to it, he said.

London Plays Host To 6th Meeting Of Chornobyl Donor-Nations

London played host to the 6th meeting of the Chornobyl Shelter Fund's donor-nations. Hennadiy Yaroslavtsev, Ukraine's Deputy Minister for Power Industry, led the Ukrainian delegation ho briefed other participants about the Shelter facility's current technical condition. As it was noted at the session, the Fund's assets total $ 393.43 million versus the planned sum of $ 758 million. According to the Chornobyl Shelter Fund's senior officials, work is under way to prepare a joint message to the Chornobyl donor-nations by Ukrainian President Leonid Kuchma and British Prime Minister Tony Blair. The Fund's next general meeting will be held in March, 1999.

EU To Allocate Ukraine 150 Million ECU Only After Resumption Of IMF Financing

The European Union will provide its 150-million ECU loan to Ukraine only after resumption of IMF loans to Ukraine, Tamara Solyanyk, deputy chair of the National Agency for Reconstruction and European Integration, told Ukrainian News on December 10. According to Solyanyk, the terms of the loan have already been agreed and an agreement on provision of the loan may be signed immediately after resumption of IMF loans. "The memorandum has been completely agreed," Solyanyk said. Ukraine and the EU began drafting the terms of the loan, which is intended for upholding Ukraine's balance of payments, in mid-October. The Ukrainian government had hoped to receive the loan's first tranche (about 50 million ECU) this year. However, uninterrupted implementation of the IMF's Extended Fund Facility loan program, which began in September, is a mandatory condition for provision of the EU loan. The IMF suspended EFF loans to Ukraine in November, saying that provision of the loans will not resume before January next year. The EU loan will be provided to the National Bank of Ukraine for a period of ten years at 6-7% per annum. No condition is attached to the use of the loan. Ukraine had earlier received two European Union loans to uphold its balance of payments - 85 million ECU in 1995 and 200 million ECU in 1997.

Russian Aerospace Companies Expected To Have Stakes In Khartron

As reported from Kharkiv on December 14, Russian aerospace companies are expected to have 26 percent and 23 percent stakes in the Kharkiv-based joint venture Khartron, Ukraine's leading manufacturer of rocket/missile guidance systems. According to Oleksandr Bek, Khartron's deputy director for marketing, the Moscow-headquartered Khrunichev research & production association has intimated its willingness to have a hand in Khartron's corporatization. However, the Ukrainian Cabinet means to retain the State's controlling parcel of Khartron's stocks with the remainder likely to be offered to eligible strategic investors.

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