Ukraine is looking for $9.5 billion for recovery

In 2024, Ukraine needs another $9.5 billion to finance the strategic directions of economic recovery. According to the Ministry of Finance, these funds are aimed at restoring the defense industry, energy, repairing damaged housing, developing agriculture, natural resources, digital technologies, and the IT sector.

It is noted that needs in the amount of $5.5 billion have already been partially met from the state budget and through donor assistance. However, there remains a significant amount, which is necessary for the full recovery and development of the economy.

Olha Zykova, Deputy Minister of Finance of Ukraine, emphasized the importance of joint efforts with partners to create a favorable investment climate. She emphasized the need to improve access to financing investment projects, create mechanisms for state support and protection from war risks, which will contribute to sustainable economic growth and recovery of the country.

The International Investment Guarantee Agency (MIGA) has created the SURE Trust Fund to raise financing that supports war risk insurance projects in Ukraine. With the support of donor countries such as Japan, Great Britain, Norway and Belgium, MIGA has already provided Ukraine with guarantees in the amount of about $200 million.

Ukraine actively cooperates with the European Union within the framework of the Ukraine Facility, which is aimed at mobilizing investments to support the private sector. The Ukraine Investment Framework initiative aims to develop infrastructure and support Ukrainian enterprises through the provision of financial guarantees and other instruments.

Also, the Ministry of Finance of Ukraine actively contributes to the coordination of donor aid through the establishment of the Business Advisory Council. This will contribute to the involvement of the private sector and the mobilization of resources for the recovery of the country's economy.

The state program of the Entrepreneurship Development Fund "Affordable loans 5-7-9%" is also actively implemented in Ukraine with the support of the Credit Institution for the Reconstruction of Germany (KfW), which promotes the development of small and medium-sized businesses in the country.