By the end of the year, the Ministry of Finance of Ukraine expects to attract more than USD 15 billion in external financing
29 October 2024 09:56
The team of the Ministry of Finance of Ukraine headed by Minister Sergii Marchenko took part in the Annual Meeting of the IMF and the World Bank. This was reported by the Ministry of Finance of Ukraine, according to Komersant ukrainskyi
.
The focus of attention was primarily on budget support for Ukraine in 2025, in particular, the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism in the amount of $50 billion. And during his visit to Washington, Sergii Marchenko and U.S. Treasury Secretary Janet Yellen signed a joint statement that formalized the agreement to provide Ukraine with USD 20 billion under the ERA. The final decision of all G7 countries is expected in the near future.
They also discussed the implementation of existing and launch of new projects to support Ukraine in cooperation with international financial organizations.
For example, during the discussions with the heads of the EU finance ministries, Ukraine’s performance under the Ukraine Facility Plan was noted. Next year, the instrument will provide EUR 12.5 billion in budget support.
The IMF optimized the schedule of tranches for 2025, increasing the financing plan for Ukraine from USD 1.8 billion to USD 2.7 billion.
The G7 countries demonstrated unity on the issue of using the proceeds from the frozen assets of the Russian Federation in favor of Ukraine. The funds are expected to be available from the first days of 2025.
And by the end of this year, the Ministry of Finance of Ukraine expects to attract more than USD 15 billion in external financing. The partners have assured that they will provide support in full.
For your information
Military bonds, loans from international financial organizations, as well as bilateral loans and grants are important sources of financing for the state budget for 2024.
