Ukraine is preparing a recovery plan based on the €50B promised by the EU.

The Government of Ukraine has started preparing a recovery, reconstruction, and modernization plan (Ukraine Plan), which is necessary to receive financial assistance from the EU after 2023, the Ministry of Economy reported. More than a dozen industry working groups will be created for its development. Their findings will form the basis of the sectoral development programs of the Ukraine Plan, which will provide for the attraction of tens of billions of euros to the economy during 2024-2027.

“Its phased implementation will not only allow for the receipt of €50B in aid over four years but will also contribute to attracting additional investments for almost the same amount (€50B),” said the head of the ministry, Yuliya Svyridenko.

The plan is intended to provide the structure for the vision of Ukraine’s post-war recovery and development. Future reforms and sectors that need priority funding should also be prescribed. Part of the funds will go to cover the budget deficit and part to recovery, but most of it will be directed to the private sector and the implementation of strategic investment projects.