22 Jun 2023 14:46

Ukrainian PM expects to raise $7 bln for recovery with assistance of donor platform

MOSCOW. June 22 (Interfax) - Ukrainian Prime Minister Denis Shmygal expects to raise about 7 billion for recovery with the assistance of the Multi-agency Donor Coordination Platform for Ukraine.

"We are currently focusing on funding and implementing Ukraine's reconstruction program. We are focusing on five priorities for rapid recovery. These are housing, energy, critical and social infrastructure, humanitarian demining efforts, and economic recovery. Under the Rapid Damage and Needs Assessment (RDNA2) undertaken by the World Bank, $14.1 billion is required this year to implement rapid reconstruction in certain priority areas. The Ukrainian state budget has already provided $3.3 billion for reconstruction. Our international partners are willing to provide about $4 billion. Thanks to your support, we hope to mobilize about $7 billion," Ukrainian media quoted Shmygal's statement issued by the government press service following the meeting of the Multi-agency Donor Coordination Platform for Ukraine in London.

The prime minister stressed the importance of the initiative of setting up project management groups under the ministries and said he hoped that they would be launched shortly.

He also noted the need for the governments of the partner countries to be involved in the insurance of military and political risks for businesses.

"We need to work on expanding business support tools, especially on introducing mechanisms for insuring military risks. This is impossible without the support of the member states of the platform. The private sector is willing to invest in Ukraine and reconstruction projects. The current major request from businesses is for insurance against risks and for guarantees from their governments. We hope that by joint efforts we will be able to find optimal solutions and start implementing relevant projects as soon as possible," he said.