Ukraine has Plan B in case of delay in assistance from partners - First Vice PM

Ukraine is working out, together with international partners, several options in case funding from the EU and the U.S. is delayed.

That’s according to the First Vice Prime Minister of Ukraine, Minister of Economy Yulia Svyridenko, who spoke in an interview with Financial Times, Ukrinform reports, referring to the ministry’s press service.

Ukraine has received clear signals from partners that funding will eventually be provided, while alternative options are also being worked out. The Ukraine Facility worth EUR 50 billion, proposed by the EU, includes EUR 8 billion as part of an investment instrument to cover risks in priority sectors, which would allow attracting more than EUR 30 billion to the country.

"It's not just about preserving macroeconomic stability as such, but also about creating prerequisites for economic recovery and the return of Ukrainians," said Svyridenko.

She noted that in the short-term perspective of the first months of 2024, the Government has an alternative plan for what needs to be done if funding is delayed. At the same time, in the long term, there is a risk of delay in social payments as the government prioritizes security and defense spending.

"The support from partners is extremely important," Svyridenko emphasized.

She expressed hope that the EU will approve support under the Ukraine Facility in February and provide funds by the end of March.

As reported, Ukraine attracted more than $42 billion worth of international aid, which allowed for financing all urgent expenses.