Sergii Marchenko, Finance Ministers of partner countries, and the EBRD President discussed cooperation priorities for effective recovery

On May 14, the Minister of Finance of Ukraine and Ukraine’s Governor at the EBRD Sergii Marchenko participated in a panel discussion dedicated to supporting Ukraine. The event was organized by the European Bank for Reconstruction and Development (EBRD) and held in London, United Kingdom.

Participants in the discussion included:

• EBRD President Odile Renaud-Basso;

• UK Chancellor of the Exchequer Rachel Reeves;

• Irish Minister for Finance Paschal Donohoe.

The discussion was moderated by Bloomberg journalist Mishal Husain.

The panel addressed key challenges and opportunities for Ukraine amid the full-scale war, including: the adaptation of Ukraine’s economy to wartime conditions; the role of the international community in supporting Ukraine during the war and in post-war recovery; the war’s transformational impact as a forced catalyst for change and reform; and ways to attract both domestic and foreign investors.

In his remarks, Sergii Marchenko emphasized that despite ongoing challenges, Ukraine is maintaining financial resilience and implementing important structural reforms.

Over more than three years of full-scale war, Ukraine’s economy has adapted and continues to recover. Following a GDP decline of 28.8% in 2022, the economy grew by 5.5% in 2023 and 2.9% in 2024.

Sergii Marchenko noted that Ukraine, together with its international partners, continues taking measures to rebuild the economy, boost exports, and manage monetary policy effectively to contain inflation. To ensure budgetary stability, the Ministry of Finance has implemented necessary steps, including optimization of budget expenditures, issuance of war bonds, and a sound public debt management strategy.

He thanked international partners for their continued support and emphasized the importance of transitioning from short-term solutions to long-term recovery strategies.

Together with finance ministers of partner countries and the EBRD President, Sergii Marchenko discussed ways to attract private foreign capital as one of the key instruments of recovery. The Minister outlined Ukraine’s investment priorities:

“Today, one of the most technologically advanced and dynamic sectors of the Ukrainian economy is the defense industry. We continue investing in its development. This potential can also be leveraged for civilian sectors. Cross-sectoral solutions can become drivers of economic growth both during and after the war. Additionally, energy and housing remain top priorities – these are areas with significant investment needs and great potential.”

Ireland’s Finance Minister noted that combining Ukraine’s security expertise with its strong potential in innovation and entrepreneurship creates value not only for Ukraine itself but for all of Europe. Ukraine is an attractive destination for private foreign investment.

Partners emphasized that creating an enabling environment for private sector development and investment attraction should include international cooperation to strengthen energy security and modernize infrastructure. Special attention was paid to the need for innovative financial instruments, including expanding war-risk investment insurance.

The discussion served as an important platform for exchanging views on the ongoing efforts of governments, international financial institutions, and the private sector to support Ukraine during the war and in the recovery process.

International partners expressed unity in their continued cooperation and support for Ukraine.