Ukraine needs $3 billion in monthly external funding — Finance Minister
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In 2024, Ukraine's monthly requirement for external
financing amounts to approximately $3 billion, Ukrainian Finance Minister
Serhiy Marchenko told his G7 counterparts on Feb. 28.
According to Marchenko, Ukraine's financial system remained resilient through 2023, and its economy was recovering faster than expected, thanks to the government policy and international support.
“It is crucial to maintain this trend; In 2024, the monthly need for external financing will be around 3 billion U.S. dollars,” the Finance Ministry quotes Marchenko in a press release.
“Further systematic budget support is vital to ensure funding for social expenditures. We cannot afford any delay in securing external financing.”
He noted that since February 2022, financial support for Ukraine from G7 countries and the European Union has reached approximately $63 billion.
Marchenko expressed gratitude to Japan, the United Kingdom, and Canada for their plans to direct financial aid "in the very near future," and to the European Union for launching the four-year Ukraine Facility fund.
On Feb. 28, the Council of the European Union approved establishing the Ukraine Facility fund, which aims to provide EUR 50 billion ($55 billion) in financial aid to Kyiv in 2024-2027.
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