Ukraine needs US$9.5 billion of external financing for priority recovery this year

Ukraine will require approximately US£37.3 billion in external financing to cover the state budget deficit in 2024. At the same time, Ukraine requires an additional US£9.5 billion to cover priority recovery needs. Source: Olha Zykova, Deputy Minister of Finance of Ukraine, during the Ukraine Roundtable: Infrastructure Reconstruction and Financing held in Paris 

Details: Zykova stated that Ukraine will require approximately US£37.3 billion in external financing to cover its state budget deficit in 2024.

Zykova added that rapid recovery is a top priority because it helps create safe living conditions for Ukrainians while also contributing to the country's economic recovery. According to the Third Rapid Damage and Recovery Needs Assessment (RDNA3) report, developed jointly by the Ukrainian government, the World Bank, the European Commission, and UN representatives, Ukraine will require approximately US£15 billion for rapid recovery in 2024. Approximately US£5.5 billion have already been allocated from the state budget and through donor support.

Thus, Ukraine requires an additional US£9.5 billion to fund its recovery priorities, according to the Ministry of Finance. "Involving the private sector in the recovery process is an integral part of Ukraine's sustainable growth.  We are working with our partners to achieve this through a number of mechanisms, including the introduction of war risk insurance, improved conditions for investment projects, public-private partnerships and the development of industrial parks," Zykova added.

Background: 

The Ministry of Finance of Ukraine attracted US£1.2 billion in grants and concessional financing from international partners in the first two months of 2024.

Support UP or become our patron!