Ukrainian Corvette Project Faces Budgetary Problems

The revival of the Ukrainian Navy is facing sever budgetary problems. In order to overcome this problem the “Foundation For The Revival of Ukrainian Navy” is organizing a fund drive. The aim is to collect enough money from the citizens to keep the production of the Project 58250 class continuing.

The keel of the first corvette of Project 58250 was laid by the Ukrainian President Viktor Yanukovich on 17th May 2011 at the Chernomorsky Shipyard, Nikolayev, Ukraine .

One week after the keel laying, Ukrainian defence minister Mikhail Yezhel donated his monthly salary ( believed to be around 2300 USD) and called all Ukrainians for financial support.

According to Ukrainian Mod Website, on 22nd August 2011, the management of the “Foundation For The Revival of Ukrainian Navy” is going to hold a press conference. The topic of the conference seems to be the fund drive for the corvettes.

It’s been reported earlier that the Cabinet of Ministers of Ukraine plans to allocate about UAH 16.22 billion (about $ 2 billion) to finance the construction of four corvette-class ships until 2021. The first ship of the corvette class is planned to leave the shipyard in 2016.

These plans might be a little too optimistic. If there was enough money to keep the corvettes building, the Ukrainian State would not asked for its citizens to donate money and openly support charitable organisations for collecting money.

The revival and the future of the Ukrainian Navy may depend on how much money Ukrainians are ready to spend for it.


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