Ukraine hopes to attract $13.5B in external financing this year – Finance Ministry

Ukraine expects to attract another $13.5 billion in external financing by the end of 2024, the Ukrainian Finance Ministry's press service said.

Ukraine's Deputy Minister of Finance Olha Zykova said this during an event organized by the Center for Economic Strategy (CES) and the German Economic Team (GET) on the topic: "How much money does Ukraine lack? Budget deficit, help from partners and prospects for 2025."

According to Zykova, Ukraine expects to attract about EUR 4 billion from the European Union under the Ukraine Facility financial instrument, over $3.9 billion from the United States, about $2.2 billion from the IMF under the EFF Arrangement, about $2 billion from the Government of Japan, and about $500 million from the United Kingdom.

She recalled that thanks to the systematic work of the Government of Ukraine and the implementation of the necessary reforms and measures, the country managed to attract about $24.7 billion in direct budget support from international partners in 2024.

In the second quarter of 2024, Ukraine's public and publicly guaranteed debt grew by UAH 243.7 billion in hryvnia equivalent and by $1.1 billion in U.S. dollar equivalent. The increase in debt occurred mainly due to the growth of long-term preferential financing from international partners.