Ukraine needs up to $30B in annual investments over next ten years – PM Shmyhal

Ukraine needs $10 to $30 billion in annual investments from partners over the next 10 years.

Prime Minister of Ukraine Denys Shmyhal stated this at a meeting of the Multi-Agency Donor Coordination Platform as part of the Ukraine Recovery Conference in Berlin, Ukrinform reports citing the Prime Minister's Telegram channel.

"I highlighted the importance of clearly defining the tasks and priorities for the platform's work. First, it is the financial stability of Ukraine. It is important for us that the support of our partners is predictable, rhythmic and stable. We need reconstruction, access to foreign markets, and improved logistics. We need foreign investment and technology transfer from our partners. Ukraine needs from $10 to $30 billion in annual investments over the next 10 years," the Prime Minister said.

Shmyhal has stressed that the Ukrainian government has launched some economic stimulus programs that have had a positive effect. According to him, Ukraine’s GDP recovered by 5.3% in 2023, while in the first four months of 2024, growth was 4.4%.

The Prime Minister also emphasized that after Russia's unprecedented strikes on the Ukrainian power system, the energy sector needs special support.

"More air defense systems, more energy equipment, assistance in expanding electricity imports to Ukraine, assistance in decentralizing the energy grid," he emphasized.

The Prime Minister also expressed gratitude to the governments of the partner countries for their faith in Ukraine and assistance on the way to victory, recovery, growth and European future.

As Ukrinform reported, the National Bank of Ukraine has approved decisions that will facilitate the development of credit support for projects on the reconstruction of energy infrastructure.