Government working on creation of four funds to rebuild Ukraine

On the instruction of the Ukrainian president, the government begins work on the formation of four funds to rebuild Ukraine

According to Ukrinform, Prime Minister Denys Shmyhal announced this in a video address.

"First. It is a fund for the restoration of destroyed property and infrastructure. We will rebuild everything that was destroyed by the Russian invaders. Every house, every apartment, every school, every kindergarten and hospital! Every bridge and road!" Shmyhal said.

The second fund is for economic recovery and transformation. "We will ask our partners to adopt the so-called "Ukrainian Marshall Plan" for us. We need not just to rebuild the economy, we will build a new European country," Shmyhal said.

According to him, the third fund will deal with servicing and repaying Ukrainian debt. Now, despite the war, Ukraine is fulfilling all its obligations. On March 1, the Ministry of Finance made a coupon payment of $292 million on eurobonds.

"But we believe that the world should help and support Ukraine, realizing what burden is on us today," he added.

The fourth fund that will be created in Ukraine is the fund for the support of the affected business.

As was reported earlier, Ukraine expects the signing of an agreement to establish a multi-donor monetary fund - with the participation of a World Bank loan - in the amount of $1.8 billion.

Also on Thursday, a Memorandum on Ukraine's receipt of EUR 1.2 billion in macro-financial assistance from the European Union was signed. The first tranche is expected to arrive in the coming week.