Ukraine needs $9.5B in financing for priority recovery items; Ukraine’s partners are already working on mechanisms.

The government has said that Ukraine needs $9.5B in external funding for priority recovery needs in 2024.

To that end, the US State Department and the German Marshall Fund (GMF) have announced the creation of the Ukraine Cities Partnership (UCP), which will promote sustainable urban reconstruction in wartime conditions. The State Department and GMF will engage key stakeholders, technical experts, and financial partners in the UCP partnership effort, combining the energy and ingenuity of the private sector with governmental resources and assets.

UCP efforts involve interaction with the government of Ukraine, the EU, multilateral development banks, and bilateral donors. The UCP initiative is designed for three years.

At the same time, Greek Prime Minister Kyriakos Mitsotakis said that Greece’s programs for Ukraine’s recovery will be concentrated in Odesa and directed primarily to the development of ports.