The government will use international financial aid to pay salaries, pensions and help the needy.
On 21-22 June, London hosted the Ukraine Recovery Conference, a major event dedicated to the restoration of Ukraine during and after the war with Russia. The Ukraine Reconstruction Conference brought together more than 1,000 people involved in their country’s public and private sector decision-making. As part of this international event, another agreement was signed between the Ukrainian government and the World Bank. According to the Department for Reintegration, we are talking about attracting additional loan financing of US$ 500 million under UK guarantee.
“As a result of the Conference on Reconstruction of Ukraine, it was possible to attract additional financial resources for restoration, to form a coalition of enterprises for investment and to strengthen coordination with international partners,” said Prime Minister Denys Shmyhal. said.
Within the scope of this project, the total amount of appropriations under the UK guarantee is 2 billion USD.
These funds will be used to pay salaries to rescuers, teachers; payment of pensions; financial support for low-income families, children with disabilities, internally displaced persons, single mothers; Payment for medical services under the medical guarantees program.
Also in London, memorandums were signed with the European Bank for Reconstruction and Development (EBRD) to support the Ukrainian energy sector for 600 million euros. Funds will be received by PJSC “Ukrhidroenergo”, NPC “Ukrenergo” and NJSC “Naftogaz”.
The EBRD will assist in the rehabilitation and modernization of hydroelectric power plants.
After the recovery of the Kakhovka reservoir area, it is planned to develop a roadmap for the reconstruction of the HEPP.
On 21 June, it was reported that by 2027, the EU will meet almost half of Ukraine’s needs. To finance this fund, the European Union provided three sources: grants from the EU budget, the provision of loans and the use of revenue from frozen Russian assets.
Recall that at the end of March 2023, Finance Minister Serhiy Marchenko shared with journalists information about Ukraine’s military spending. According to the official, our country spends about 130 billion dollars a month to protect itself from Russian invaders.
Source: Focus
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