Ukraine needs $42 bln in assistance from partners in 2024 – Shmyhal
In 2024, Ukraine will need financial assistance from its partners amounting to approximately $42 billion, just as it was in the current year, Prime Minister Denys Shmyhal has said.
"Like this year, in 2024 we will need strong financial support from our partners of approximately $42 billion. This is a large amount, but it includes only critically necessary budget expenditures. I mean direct budget funding," he said during the hour of questions for the government at a plenary session of the Verkhovna Rada on Friday.
As for specific sources of revenue, the head of government noted that Ukraine expects to receive $18 billion from the European Union, about $12 billion from the United States, as well as funds under multi-year programs from Japan and Norway for $5.5 billion and $7.5 billion, respectively. Ukraine will be able to attract some of them, according to the prime minister, next year.
"We are preparing, together with the European Commission, a plan for Ukraine within the framework of the Ukraine Facility program with a total amount of EUR 50 billion for four years," he said.
Shmyhal recalled that Ukraine also has support in the form of a four-year IMF program worth $15.6 billion.
"Since the beginning of the Russian invasion, Ukraine has attracted about $65 billion in partnership assistance in the form of soft loans and grants. Of this, $32.6 billion was attracted in 2023, primarily from the European Union, the United States of America, the International Monetary Fund, Canada, Japan and our other partners and allies. This year we plan to attract $42 billion of macro-financial and partnership assistance in the form of cheap long-term loans and grants," the head of government said.