Ukraine and the United States agreed to develop partnership in economic recovery and reconstruction projects. Minister of Finance met with the incoming US Special Representative for Ukraine's Economic Recovery

Today, on 6 September, Minister of Finance of Ukraine Sergii Marchenko met with the U.S. Under Secretary of State for Management and Resources and incoming Special Representative for Ukraine's Economic Recovery Richard Verma. 

The meeting was attended by Deputy Minister of Finance of Ukraine Alexander Kava and Ambassador Extraordinary and Plenipotentiary of the United States to Ukraine Bridget Brink. 

Sergii Marchenko expressed his gratitude to the U.S. Government for its comprehensive and strong support and stressed the importance of further comprehensive cooperation between Ukraine and the United States. 

‘The United States of America is the largest donor of grant budget support to Ukraine, with about USD 26.8 billion in non-repayable funding. Since the first days of the full-scale invasion, the funds raised have become a key resource for social and humanitarian expenditures of the State Budget. Moreover, this funding did not create an additional debt burden on the budget. 

The assistance of the United States in the reconstruction, including funding for the energy sector and humanitarian initiatives, is also crucial for the country in wartimes,’ the Minister of Finance added. 

For 2024, the budget support from the United States is envisaged in the amount of USD 7.8 billion. Ukraine has already received the first tranche of USD 3.9 billion this year.

The parties discussed Ukraine's current needs for State Budget financing and rapid recovery, as well as the process of prioritising existing public investment projects (Single Project Pipeline). 

As part of the work of the Strategic Investment Council, the Government of Ukraine, together with international partners, aims to introduce a Single Project Pipeline for public investment, which will help identify which initiatives need more timely funding and implementation.  

‘It is important to have a single mechanism for prioritising and objectively evaluating projects. We are currently working in this direction.  The ultimate goal is to efficiently allocate limited financial resources to achieve the best results for the state and citizens. The priority remains the energy sector, social security and rapid recovery,’ the Minister of Finance added.  

Richard Verma emphasised that the United States is committed to supporting Ukraine and assured of its continued active involvement in the process of economic recovery and reconstruction.