Even after victory, Ukraine will need international aid to survive. As Minister of Finance Serhiy Marchenko said, two fundamental ways to reduce this dependence in Ukraine are increasing economic output and winning the war. “But increasing the domestic market vo... #financialaidforUkraine #SerhiyMarchenko #SupportUkraine #UkraineEconomy #UkraineRecovery
The EU will provide Ukraine with €4.5B by the end of the year, while Ukraine hopes for another $2.3B from the US. The EU has become Ukraine’s largest donor in 2023, with €13.5B already allocated as part of a macro-financial aid instrument, and expects to provide additional funding for the Ukrainian budget b... #DenysShmyhal #financialaidforUkraine #PaoloGentiloni #SupportUkraine #UkraineBudget
The IMF will allocate $900M to Ukraine at the end of 2023, but there are conditions. IMF Director Kristalina Georgieva stated that this financing will take place under the Enhanced Funding Program (EFF). “In June, we completed the first review of this program, bringing the IMF&#... #EFFprogram #financialaidforUkraine #imf #IMFprogramm #KristalinaGeorgieva
The IMF advises Ukraine to optimize tax collection against a possible decrease in international financial support. As the head of the IMF mission, Gavin Gray, noted, this should be considered because the need to finance social expenditures will increase after the war’s end. “That’s why the author... #financialaidforUkraine #GavinGray #imf #ReformsinUkraine #TaxesUkraine
Ukraine receiving $115B in aid from its partners depends on an IMF program. According to the head of the NBU, Andriy Pyshnyi, implementing the IMF program will provide financial assistance of $15.6B and be critical for obtaining $115B in financing from partners over the next ... #AndriiPyshnyi #financialaidforUkraine #imf #IMFprogramforUkraine #SupportUkraine
This year, the DFC financed three projects in Ukraine for $110M. The cooperation between Ukrainian companies and banks with the American International Development Finance Corporation (DFC), on the one hand, increases the stability of the Ukrainian economy and, on t... #BusinessInvestments #DFC #financialaidforUkraine #InvestmentsinUkraine #YuliyaSvyridenko
The European Parliament approves amendments to the EU budget and supports the allocation of €50B to Ukraine. The European Parliament adopted a resolution in support of the European Commission’s proposals for revising the EU multi-year budget for 2021-2027 and creating a special Ukrainian fund. The reso... #DenysShmyhal #EUbudget #EUparliament #EUprogramForUkraine #financialaidforUkraine
Why did the national debt increase by $1.01B in August, and to whom does the state owe the most? According to the Ministry of Finance, Ukraine’s state and state-guaranteed debt increased by $1.01B in August because the state budget received the seventh tranche of €1.5B of macro-financial as... #EUfinancialAid #financialaidforUkraine #StateDebtUkraine #UkraineBudget #ukrainedebt
Ukraine has received $31B in international aid this year and hopes to receive more help. As Deputy Minister of Economy Denys Uliutin stated at the regional economic forum, with these funds Ukraine can finance basic needs, especially non-military, and in particular, the remuneration of civ... #DenysShmyhal #DenysUliutin #financialaidforUkraine #SupportUkraine #UkraineBudget
The US Congress has found a compromise to finance aid to Ukraine. A bipartisan group of lawmakers in the US House of Representatives announced that they had agreed to a framework for legislation providing temporary funds that would allow continued aid to Ukraine bey... #financialaidforUkraine #JoeBiden #JohnKirby #UScongress #USsupportsUkraine #WarinUkraine #Zelenskyy
Which international partners will help Ukraine in 2024? According to the draft budget for next year, Ukraine will receive: $9B in macro-financial assistance from the EU, an IMF loan under the EFF program that will amount to $5.4B, a $2B loan from the Inter... #EFFprogram #financialaidforUkraine #IMFaid #SupportUkraine #UkraineBudget
The government has approved and sent a 2024 draft budget to the parliament: defense support increased, and $42B is expected from partners. The next year’s budget anticipates revenues of UAH 1.746T, expenditures of UAH 3.308T, and a UAH 1.531T budget deficit. At the same time, beginning January 1 the minimum salary will increase to ... #financialaidforUkraine #UkraineBudget #UkraineBudget2024 #UkraineBudgetDeficit
The framework of the Ukraine Facility will allow for attracting other donors. Developments within the framework of the Ukraine Facility program will become the foundation for further negotiations with a broader range of partner countries and financial organizations. The program... #EUprogramForUkraine #financialaidforUkraine #SupportUkraine #UkraineFacility #YuliyaSvyridenko
Ukraine expects to receive another $3.3B in budget support from the US by the end of the year. According to the Minister of Finance of Ukraine, Serhiy Marchenko, the Ministry of Finance is counting on the same amount of financial assistance from the US in 2024 as it received this year. The mini... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget #USsupportsUkraine
Most Europeans support further financial aid to Ukraine and sanctions against Russia. In particular, these positions are supported by 65% and 71% of respondents, respectively. Another 57% believe that the EU should support the purchase and supply of military equipment for Ukraine and t... #financialaidforUkraine #SanctionsAgainstRussia #SociologicalSurvey #SupportUkraine #WarinUkraine
Ukraine and the WB reviewed the project portfolio for the first time since 2021. The volume of the joint project portfolio with the World Bank is currently the largest it has been over all the years of cooperation. As the Ministry of Finance specified, it consists of 20 existing p... #financialaidforUkraine #GrantsforUkraine #LoansForUkraine #worldbank
Billion-dollar US aid package for Ukraine includes $5.4M from Russian oligarchs, and the EU is preparing to transfer €3B to Ukraine from frozen Russian reserves. For the first time since the beginning of the war, the US will transfer Ukraine assets confiscated from sanctioned Russian oligarchs, said US Secretary of State Antony Blinken. The assets total around... #AnthonyBlinken #financialaidforUkraine #RussianAssetsConfiscation #SupportUkraine #USaidforUkraine
Europe, ahead of the US, doubles the aid promised to Ukraine. By July 31, the total amount of assistance provided and pledged by European donors had increased to €156B, compared to about €70B from the US, according to a Kiel Institute of the World Economy study.... #EUprogramForUkraine #EUsupportforUkraine #financialaidforUkraine #WeaponsforUkraine
Due to reduced international aid, Ukraine’s international reserves decreased by 3.2% in August. As of September 1, the aid volume was about $40.4B, dropping by $1.4B in August, the National Bank reported on Wednesday. The reason for the decrease was the NBU’s FX sales to cover the differen... #financeUkraine #financialaidforUkraine #foreignexchangemarket #internationalReserves #nbu
Ukraine’s state budget deficit increased to almost UAH 131B in August. The state budget deficit in August 2023 amounted to UAH 130.7B, compared to UAH 107.6B in July, the Ministry of Finance reported. It is noted that cash expenditures in the state budget increased signi... #financeUkraine #financialaidforUkraine #UkraineBudget #UkraineBudgetDeficit #UkraineIncome
Budget disputes in the EU threaten further aid to Ukraine. EU funding to support Ukraine is being held back by disagreements between member states, while concerns about strained national budgets and rising spending in Brussels threaten the flow of financial a... #EUprogramForUkraine #financialaidforUkraine #SupportUkraine
The US will appoint an inspector to monitor financial aid to Ukraine. Members of the Republican Party in the US Congress may ask for an inspector to be appointed to oversee the funding of aid to Ukraine to “prevent corruption”. This situation develops soon a... #FinancialAidAudits #financialaidforUkraine #JoeBiden #USaidforUkraine #WarinUkraine
The EU will transfer €135M to Ukraine that had been intended for Russia and Belarus. As reported by the European Commission, the €135M had been allocated to finance the Interreg NEXT programs with Russia and Belarus during 2021-2027, but it was decided to transfer the funds to Ukraine... #EuropeanCouncil #financialaidforUkraine #InterregNEXT
Germany is ready to allocate €5B every year to support Ukraine. Minister of Finance Christian Lindner shared the German government’s plans during his visit to Kyiv. However, the government’s decision must be approved by the Bundestag. Note that the par... #ChristianLindner #financialaidforUkraine #GermanyAidforUkraine
In 2024, military expenditures will remain at this year’s level, as will the need for continued international support, noted Finance Minister Serhiy Marchenko. Next year Ukraine will need more than $40B in international aid. Ukraine needs $42B in foreign financing ... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget #UkraineBudgetRevenue
Ukraine’s state budget this year is funded with the allies’ help. According to the Ministry of Finance, the 2023 Ukrainian budget is largely financed by military bonds, loans from international financial organizations, bilateral loans, and grants. So, as of August 4... #financialaidforUkraine #FundingUkraine #UkraineStateBudget
The European Parliament will vote on a new €50B EU program for Ukraine. At the end of November, the European Parliament plans to vote on the final text of the new Mechanism to Support the Recovery, Reconstruction, and Modernization of Ukraine, and the first disbursement s... #EUprogramForUkraine #financialaidforUkraine #ViolaVonCramonTaubadel
Ukraine expects at least $37B in international aid in 2024. In 2023, Ukraine expects $42B in international assistance, and next year it expects at least $37B, said the head of the NBU, Andriy Pishnyi, during an interview for ICTV. He says Ukraine’s budge... #AndriyPishnyi #financialaidforUkraine #nbu #UkraineBudget #UkraineBudgetRevenue
In July, the Ministry of Finance collected $5.3B in revenue. Since the beginning of the year, the Ministry of Finance has gathered more than $28B for the budget, and in July alone, $5.3B. Grant funds compose about 25% of the total financial assistance. Among th... #financeUkraine #financialaidforUkraine #SupportUkraine #UkraineBudgetRevenue
The Ukrainian budget received over UAH 245B ($6.7B) in June. According to parliament member Yaroslav Zheleznyak, the budget received UAH 245B and fulfilled all the monthly government needs. Through its internal resources, the state received: UAH 52.1B from tax,... #financialaidforUkraine #StateBudgetUkraine #UkraineBudgetRevenue #YaroslavZhelezniak
The IMF approves a decision to allocate $890M to Ukraine. The IMF approved the decision to allocate another tranche to Ukraine within the framework of the extended financing program in the amount of $890 million. “The Executive Board of the IMF complet... #EFFprogram #financialaidforUkraine #imf #IMFaidforUkraine
Ukraine has already received $22B from the World Bank and donor countries. Before the start of the full-scale war the World Bank mobilized $34B to support Ukraine, over $22B of which Kyiv has already received. This was discussed during a working visit to Washington by the Mi... #AnnaBjerde #AntonellaBassani #financialaidforUkraine #SerhiyMarchenko #WorldBankGroup
The EU is preparing a plan to transfer revenues from frozen Russian Federation assets to Ukraine. The President of the European Commission, Ursula von der Leyen, promised to present it before the “summer vacation” at the Conference on the Reconstruction of Ukraine in London. She noted ... #financialaidforUkraine #RussianAssets #RussianAssetsConfiscation #UkraineReconstruction #UkraineRecovery #UrsulavonderLeyen
The EU will provide Ukraine with a €50B, four-year financial support package, but there are conditions. This commitment will give Ukraine more certainty in its finances and should encourage other allies, primarily the US and Great Britain, to make similar long-term commitments. The money will be used to... #EUfinancialAid #financialaidforUkraine #UrsulavonderLeyen
Ukraine will receive over €10M from Slovenia and $205M in humanitarian aid from the US. Slovenia will send €200,000 to assist with remediation efforts related to the destruction of the Kakhovka HPP dam. In addition, Slovenia will contribute about €10.2M to the European support instrument... #AnthonyBlinken #financialaidforUkraine #KakhovkaHPP #SloveniaAidForUkraine #USaidforUkraine
In 2023, Ukraine received almost $20B in budget aid from its partners. The head of the Parliament’s budget committee, Roksolana Pidlasa, said that as of mid-June, the state budget’s general fund has received $19.8B from international partners. The share of external... #financialaidforUkraine #RoksolanaPidlasa #StateBudgetUkraine #StateDebtUkraine
Ukraine’s international reserves have increased to an 11-year high. They currently stand at $37.3B, the highest figure since August 2011. The National Bank explained that the reserves grew due to steady inflows from Ukraine’s international partners, which exceeded the... #CurrencySale #financialaidforUkraine #nbu #UkraineInternationalReservs
Ukraine is launching a monitoring mechanism for international financial support. The new initiative will be handled by the US Accountability Office and the Government Accountability Office. The goal is a practical interaction between the bodies regarding the preparation of audits,... #FinancialAidAudits #financialaidforUkraine #FinancialMonitoring
The EU is preparing a program to support Ukraine worth tens of billions of euros. The program was designed for the next four years, until 2027, sources among European diplomats and officials told FT. This long-term planning will give Ukraine more certainty in its finances and shoul... #EUsupportforUkraine #financialaidforUkraine #ReformsinUkraine #SupportUkraine
The White House promises that the agreement on the US national debt will not weaken aid to Ukraine. A bipartisan agreement to prevent default will not limit the ability of the Biden administration to provide additional assistance to Ukraine, said White House Budget Director Shalanda Young. According... #financialaidforUkraine #ShalandaYoung #USaidforUkraine #USnationalDebt
Ukraine continues increasing its public debt. In April, it grew by UAH 160B as tranches of loans from the IMF and the European Union arrived. According to the Ministry of Finance, as of April 30 Ukraine’s state and state-guaranteed debt exc... #financialaidforUkraine #StateDebtUkraine #UkraineBudget #UkraineBudgetRevenue
Ukraine will receive $3B from international donors for social payments and reconstruction. On May 19, the government of Ukraine accepted additional funding from the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). This is a gr... #DenysShmyhal #financialaidforUkraine #SupportUkraine #UkraineBudget
Norway and the Netherlands provided the EBRD with €170M to help Ukraine, but the bank has asked for more money. The bank reported that Norway had allocated NOK 1.5B to support the activities of the EBRD to strengthen energy security in Ukraine, the bank said. This grant continued Norway’s NOK 2B (€195M) g... #ebrd #financialaidforUkraine #GrantsforUkraine #SupportUkraine
Ukraine will receive billions in aid from South Korea. On May 17, Ukraine and South Korea signed a preliminary intergovernmental agreement on loans from the Economic Development and Cooperation Fund (EDCF). Economy Minister Yulia Svyridenko said that Ukra... #ChooKyungHo #EDCF #financialaidforUkraine #SouthKoreaAid #YuliyaSvyridenko
The US supports the Ukrainian economy with grants, while the EU mainly provides loans. According to the Growford Institute, from the beginning of 2023, the leaders in providing Ukraine with financial, humanitarian, and military aid are the US (€71.3B), Great Britain (€9.8B), Germany (€7... #financialaidforUkraine #GrantsforUkraine #LoansForUkraine #SupportUkraine #UkraineEconomy
Ukraine lacks $6.5B for rapid reconstruction, said Minister of Finance Serhii Marchenko. He notes that of the $14B needed for rapid reconstruction, $3.3B is already in the budget. There are also stated intentions of partners to finance these costs. In particular, the US will allocate $2.3... #financialaidforUkraine #SerhiyMarchenko #UkraineReconstruction #UkraineRecovery
Ukraine’s international reserves have grown to 11-year high. In April, Ukraine’s reserves increased by 12.8%, or $4B, to $35.9B, according to the NBU. The regulator explained that reserves increased due to aid received from international partners, a further dec... #financialaidforUkraine #nbu #UkraineInternationalReservs
Norway will provide NOK 4.5B (€378M) to support Ukraine. According to the Norwegian government, the country allocated NOK 2.8B (€235M) for vital humanitarian aid for the people of Ukraine and NOK 1.7B (€143M) for the Ukrainian government’s domestic needs. T... #financialaidforUkraine #NansenSupportProgram #NorwaySupportUkraine
Ukraine will receive $11B for recovery by summer and is counting on additional aid for $2B. Minister of Finance Serhiy Marchenko notes that the total recovery needs this year are $14B, with the state budget providing $3.3B. Discussions are ongoing regarding $1.5B from the US, which has also ... #financialaidforUkraine #SerhiyMarchenko #UkraineRecovery
Last year, aid from international partners provided 27% of Ukraine’s budget revenues. According to the 2022 state budget report, as noted by the Ministry of Finance, state budget revenues amounted to almost UAH 1.8 trillion, a significant portion of which was UAH 481.1B in grants from ... #financialaidforUkraine #GDPinUkraine #UkraineBudget2022
