"Priorities for rapid recovery are to create conditions for economic development and the return of Ukrainians", - Sergii Marchenko at the Ukraine Recovery Conference

On June 21-22, Minister of Finance of Ukraine Sergii Marchenko, as part of the government delegation headed by Prime Minister of Ukraine Denys Shmyhal, participates in the Ukraine Recovery Conference in London.

On the first day of the event, the Minister of Finance of Ukraine took part in the plenary discussion "Early Recovery: The Scale of the Recovery Challenge", during which he thanked international partners for their comprehensive support and willingness to contribute to the country's recovery.

"For decades, the world has not faced such challenges as Ukraine is facing today. The russia’s war against Ukraine has put enormous pressure on the budget. However, thanks to the strong financial support from partners, we are able to balance the budget and finance critical expenditures, especially in the social araea," said Sergii Marchenko.

In 2023, Ukraine received about USD 20 billion in external financing to cover priority State Budget expenditures. At the same time, international partners have assured a total of USD 42.5 billion in direct budget support by the end of the year.

During the discussion, the Minister of Finance named the creation of favorable and safe conditions for Ukrainians to return home as a key priority in the implementation of the rapid recovery. 

The rapid recovery consists of 5 areas: recovery of the energy sector, reconstruction of residential buildings and critical infrastructure, humanitarian demining and support for the private sector.

"Together with international partners, the Government of Ukraine has done meaningful work to begin a rapid recovery. We have already seen positive results in terms of resource mobilization and identification of a pool of projects. However, we observe the need to synchronize the list of recovery priorities and the use of available resources. Project management and financial administration should move in the same rhythm," Sergii Marchenko emphasized.

The Minister of Finance urged the partners to focus their efforts on projects that will ensure safe conditions for the return of Ukrainians and contribute to the economic development of the country, as envisaged by the rapid recovery plan. 

In this process, the Ministry of Finance of Ukraine ensures control over the resources provided and the identified recovery projects, ensuring transparency and accountability of cooperation with donors.