Ukraine, U.S. agree to develop partnership in economic recovery

The Ukrainian Finance Minister discussed cooperation in economic recovery and reconstruction projects with the incoming U.S. Special Representative for Ukraine's Economic Recovery.

That’s according to the Finance Ministry’s press service, Ukrinform reports.

Ukraine’s Finance Minister Sergii Marchenko met with the U.S. Under Secretary of State for Management and Resources and incoming Special Representative for Ukraine's Economic Recovery Richard Verma. 

“The United States of America is the largest donor of grant budget support to Ukraine, with about USD 26.8 billion in non-repayable funding. Since the first days of the full-scale invasion, the funds raised have become a key resource for social and humanitarian expenditures of the State Budget. Moreover, this funding did not create an additional debt burden on the budget,” he said.

The minister emphasized the importance of further comprehensive cooperation between Ukraine and the United States. 

The parties discussed Ukraine's current needs for State Budget financing and rapid recovery, as well as the process of prioritising existing public investment projects (Single Project Pipeline). 

“It is important to have a single mechanism for prioritising and objectively evaluating projects. We are currently working in this direction.  The ultimate goal is to efficiently allocate limited financial resources to achieve the best results for the state and citizens. The priority remains the energy sector, social security and rapid recovery,” Marchenko said.

Richard Verma said that the United States is committed to supporting Ukraine and assured of its continued active involvement in the process of economic recovery and reconstruction.