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Ukraine’s priority needs require $105 billion — Ministry of Finance

Author
Iryna Maryniuk

Ukraine needs approximately $105 billion to meet the most pressing needs, said minister of finance Serhii Marchenko.

According to him, the country needs this money to prepare for winter, support the next cropping season, and be able to pay social security benefits.

Quote"Ukraine's financing needs include not only direct budget support, but also financing the restoration of thousands of liberated towns and villages, restoration of destroyed roads, bridges, schools, engineering networks, etc. The Government and the World Bank prepared and presented last week the first quantitative assessment of the damage caused by Russia, the "Ukraine Rapid Damage and Needs Assessment". Over the next 18-36 months, to meet the most urgent needs, Ukraine needs about USD 105 billion for preparing for the coming winter, repairing critical transport, supporting the next cropping season, social needs, and demining," said Marchenko.

At the same time, he emphasized the importance of concessional financing and grants.

Quote"We try to ensure all priority expenses by attracting mostly concessional financing and grants. This is extremely important for us in order not to increase the debt burden. The Ukrainian Government relies on the support of foreign donors," the minister emphasized.

It is worth noting that since Russia’s full-scale invasion, the amount raised through concessional financing has totaled nearly $18 billion. The key Ukraine’s donors are the U.S., Canada, the U.K., Japan, France, and Italy.

Context. By the end of the year, Ukraine expects to receive approximately $12 billion, including €8 billion as part of the EU’s macro-financial assistance program.

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