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The UN organ UNIDO will establish an Investment and Technology Promotion Office in Ukraine, Ukrinform reports.

The United Nations Industrial Development Organization (UNIDO) is planning to open an office for promotion of investment and technology in Ukraine, the news agency Ukrinform reports today.

“The Ministry for Strategic Industries has been selected as the main central executive body responsible for fulfilling the obligations arising from Ukraine’s membership in the United Nations Industrial Development Organization. Work is under way to set up a UNIDO Office in Ukraine,” a report  from the Ministry for Strategic Industries of Ukraine says.

The office will provide the possibility to use UNIDO for expertise and financial aid in joint projects in Ukraine. It is especially directed at the metallurgical sector and is hoped to increase certification and exports of metal products.

More foreign aid

As a bandaid on the still bleeding Nordstream 2 wound, dubbed a betrayal of Ukraine by Ukrainian media and commentators, the US congress has approved supporting Ukraine with 750 million USD a year, Ukrinform writes.

“I think that we [in the USA] have a very reliable foundation of support. Every year our Congress allocates funds to support Ukraine in various fields – up to USD 750 million a year. There are probably four, maximum five, other countries that receive such support from us every year. And it doesn’t depend on who is sitting in the White House. Both Democrats and Republicans support Ukraine. And I think that it does not depend on the administration or officials working with Ukraine,” says Charge d’Affaires of the United States in Ukraine George Kent.

It is good timing for Ukraine, who is looking more and more unlikely to receive the second tranche of the IMF loan.  Elina Ribakova, who is a chief economist at the Institute of International Finance based in the U.S, for one, is sceptical:

“We believe that expecting money by September is optimistic because the IMF’s conditions for Ukraine have not yet been met,” told Ribakova. She added that it will be unlikely for Ukraine to receive any money at all if the case of no-deal now.