Categories: Finances

Germany guarantees 221 million euros of Ukraine investments


© Reuters. FILE PHOTO: Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration

BERLIN (Reuters) – Germany is currently providing guarantees on investments totalling 221 million euros ($242 million) in Ukraine, Economy Ministry sources said on Wednesday, following a visit by the economy minister to drum up support for the country.

Those guarantees cover 11 projects in Ukraine by German companies, the sources said.

Three new investment guarantees have been added to the list since Russia invaded Ukraine in February 2022, they added. These are in the areas of seeds, production of building materials and electronics.

The ministry sources also spoke of 21 applications to secure a further 48 million euros in investments, spanning from energy production to agriculture and logistics.

Economy Minister Robert Habeck, who also serves as vice chancellor of Germany, visited Ukraine on Monday and Tuesday together with a small business delegation.

With a view to helping rebuild the war-battered country, Habeck told German companies that their capital would be backed by state guarantees if they invested in Ukraine now.

This means that if factories were to be damaged or destroyed in missile attacks, the German state would be liable for those investments.

($1 = 0.9142 euros)

Source link

nasdaqpicks.com

Share
Published by
nasdaqpicks.com

Recent Posts

Baba Kalyani opposes sister’s partition suit amendment

Kalyani Group Chairman Babasaheb N Kalyani has opposed his sister Sugandha Hiremath’s attempt to amend…

6 minutes ago

Can NYSE stay up all night?

This is an audio transcript of the Behind the Money podcast episode: ‘Can NYSE stay…

10 minutes ago

Stock market today: 136 shares hit upper circuit on the BSE. Do you own any?

Around 136 stocks hit upper circuit on Bombay Stock Exchange (BSE), Wednesday, February 12, amid…

11 minutes ago

Markets stage sharp recovery from day’s low, end marginally lower

Indian equity benchmarks ended marginally lower on Wednesday after witnessing high volatility, as markets recovered…

13 minutes ago

India’s retail inflation falls to 4.31%, a five-month low

  India’s retail inflation eased to a five-month low of 4.31 per cent in January…

21 minutes ago

Tata Motors shares’ 42% crash from peak wipes off ₹1.8 lakh crore from investor wealth

Shares of Tata Motors, a leading global automobile manufacturer, have been maintaining a steady downward…

22 minutes ago