Ukraine received more than EUR 100 million from Spain since the start of the full-scale invasion

Today, on June 26, Minister of Finance of Ukraine Sergii Marchenko met with Minister of Economy, Trade and Business of Spain Carlos Cuerpo Caballero and Ambassador Extraordinary and Plenipotentiary of Spain to Ukraine Ricardo López-Aranda Jagu. 

The meeting was also attended by Deputy Minister of Finance Alexander Kava and Ambassador Extraordinary and Plenipotentiary of Ukraine to Spain Sergiy Pogoreltsev.

The Spanish delegation's visit to Kyiv is focused on the 4th meeting of the Intergovernmental Commission on Economic and Industrial Cooperation.

During the meeting, the parties discussed the current situation in Ukraine's economy and financial system as well as the prospects of private sector involvement in Ukraine's reconstruction. 

Sergii Marchenko expressed his gratitude for Spain's comprehensive assistance to Ukraine since the first days of russia's full-scale war: 

"Financial, military and humanitarian support are the areas where Spain demonstrates solidarity with Ukraine. And I am grateful to the Government and citizens of Spain for helping Ukraine at a crucial time for us. Since the beginning of the full-scale invasion, Spain has provided USD 104 million in direct budget support, of which about half is grants. These funds were used to support Ukrainians who needed it the most while resisting the aggressor."

Grants in the amount of USD 50.1 million were allocated under the World Bank's PEACE in Ukraine project to compensate for the salaries of government employees and teachers. The rest of the financing attracted in the amount of USD 53.8 billion came in the form of a loan under the HEAL project to support the health sector. 

The participants of the meeting reviewed potential areas for further cooperation between Ukraine and Spain, in particular through the involvement of the Spanish private sector. These include energy, transport and municipal infrastructure. 

russia continues its terror of Ukraine's energy sector. As a result of systematic attacks on the energy infrastructure, Ukraine has lost more than 9 GW of generating capacity, which is about half of its demand. This increases losses and slows down economic activity. The GDP growth forecast for 2024 has already been revised and lowered from 4.6% to 3.5%. In this context, the Minister of Finance emphasized that the protection and restoration of the energy sector remains a priority. Spain's strong experience in the use of "green" renewable energy is important for Ukraine to accelerate this process. 

The parties agreed to continue a constructive dialog and consultations on the involvement of Spanish business in the recovery of Ukraine.