Ukraine to require $42 bln in financial support from partners in 2024 - PM

MOSCOW. Oct 9 (Interfax) - Like this year, Ukraine will need partners' financial assistance amounting to around $42 billion in 2024, Prime Minister Denis Shmygal said.

"As it was in the current year, in 2024 we will need strong financial support from partners of approximately $42 billion. It is a large amount, but it includes only critical budget expenditures. I mean direct budget funding," Ukrainian media quoted Shmygal as saying at a government Q&A session in the Verkhovna Rada on Friday.

As regards specific revenue sources, Ukraine expects to receive $18 billion from the European Union, around $12 billion from the United States, as well as $5.5 billion from Japan and $7.5 billion from Norway under long-term programs, the prime minister said. Ukraine may receive a certain amount of this money next year, he said.

"Together with the European Commission, we are preparing a plan for Ukraine as part of the Ukraine Facility program with a total amount of $4 billion for four years," Shmygal said.

Ukraine also has support such as a four-year $15.6-billion program with the International Monetary Fund (IMF), the prime minister said.

Since the start of the crisis, Ukraine has received around $65 billion worth of partners' assistance in the form of soft loans and grants.

"Of this amount, $32.6 billion was received in 2023, above all from the EU, the U.S., the IMF, Canada, Japan and other partners and allies. This year we plan to attract $42 billion in macrofinancial and partner assistance in the form of low-interest long-term loans and grants," Shmygal said.