International assistance to Ukraine will exceed $31B by year-end - NBU

According to forecasts of the National Bank of Ukraine (NBU), the amount of international aid to Ukraine will exceed $31 billion by the end of the year.

NBU Governor Andriy Pyshnyy said this at a briefing on Thursday, an Ukrinform correspondent reports.

“International financial assistance to Ukraine considerably increased in H2 2022. It is projected to exceed USD 31 billion by the end of the year,” Pyshnyy said.

He noted that international financial assistance needed to finance the budget deficit and restore the economy would continue to come in 2023 as well.

“More specifically, the European Union and the Unites States have already announced their preliminary intentions to provide Ukraine with EUR 18 billion and about USD 10 billion respectively,” Pyshnyy said.

He reminded that the NBU made some progress in negotiating with the IMF a new monitoring program involving the IMF Executive Board. The complete approval of this program will contribute to attracting funding from other international donors in 2023.

The NBU expects that an Extended Fund Facility will be approved for Ukraine after the monitoring program expires.

As reported, the International Monetary Fund has been supporting Ukraine since the beginning of the full-scale invasion. In March 2022, Ukraine received $1.4 billion under the Rapid Financing Instrument (RFI). In October 2022, Ukraine got $1.3 billion in additional emergency funding from the IMF.

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