Government Plans to Create a Fund for the Transformation of Coal-Mining Regions

Monday, June 14, 2021
Government Plans to Create a Fund for the Transformation of Coal-Mining Regions

Transformation of coal-mining regions of Ukraine is planned to start this year, as announced by prime minister Denys Shmygal during the All-Ukrainian Forum "Ukraine 30. Economy without oligarchs"

"Already this year we are planning to start the transformation of coal-mining regions with the support of European partners. The dialogue concerning the creation of a multi-donor fund for the transformation of the coal regions continues," Shmygal said.

Among several options for reforming, the ministry has prioritized the way of combining the process of privatization and the process of integrating state-owned mines into PJSC Centrenergo. This way includes the distribution of mines into three groups. The first group is the mines subject to integration with PJSC Centrenergo and being its resource base. The second — mines of dual-purpose, whose sales are not limited exclusively to thermal generation. The third group of mines is those that will be offered for privatization not only as coal-mining enterprises but also as integral property complexes that can be used for other economic activities.

Besides, Shmygal noticed that such transformation was included in the National economic strategy 2030, which was adopted three months ago for the purpose of economic growth for Ukraine and the improvement of the well-being of Ukrainians.

The National economic strategy 2030 is a comprehensive document, which is supposed to bring Ukraine into the club of developed and successful countries. 

The strategy has been developed with the involvement of experts, scientists, officials, people's deputies. It will be a weighty contribution to the development of successful, rich European Ukraine", the prime minister said.

"For three months we have already managed to show that we are moving in accordance with the strategy, this movement contributes to the economic recovery of Ukraine. The basis of the government's economic policy is macroeconomic stability. For successful implementation of all reforms, it is necessary to build a country with stable public finances, a developed financial sector. The government has made an important step in this direction — on May 21 for the first time the budgetary declaration for three years was approved", said Shmygal. 

He noted that the budget statement is very important for the business because it provides certainty and predictability for the government.

As Ukrinform (national news) reported, the Ukrainian government with the support of Germany plans to launch at least two pilot projects to transform coal regions as early as this year.

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