2 weeks Ago By [email protected] (MENAFN)
( MENAFN - UkrinForm) Ukraine's Ministry of Finance expects to attract more than USD 15 billion in external financing by the end of the year. This was announced by the Ministry of Finance following the participation of the Ukrainian delegation in the Annual Meeting of the IMF and the World Bank, Ukrinform reports. “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 their support in full,” the report says. As noted, the EU finance ministers acknowledged Ukraine's progress in implementing the Ukraine Facility Plan and confirmed the provision of €12.5 billion in budget support for next year.
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.
“In Washington, D.C., Sergii Marchenko and US Treasury Secretary Janet Yellen signed a joint statement that formalized the agreement to provide Ukraine with USD 20 billion under the ERA.
In addition, Chancellor of the Exchequer Rachel Reeves announced a proposal to raise £2.26 billion (USD 3 billion) to implement the mechanism,” the ministry noted. The final decision of all G7 countries is expected in the near future.
The implementation of joint projects and the creation of new ones were discussed with the leaders of the World Bank, EIB, and EBRD. The volume of the portfolio of joint projects with these institutions is the largest in all the years of cooperation. Support in key sectors of Ukraine's economy will be expanded.
During the six days of the working visit, the delegation of the Ministry of Finance held over 70 meetings with international financial leaders, particularly with finance ministers of the G7 countries, the European Union, key partners of the Asia region. As Ukrinform reported, the total amount of funding under the ERA mechanism is USD 50 billion, of which the EU's share will be less than EUR 35 billion and will depend on the contribution of other G7 countries. MENAFN28102024000193011044ID1108826699 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind.
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