Ukraine needs at least $14.1 billion this year - PM

This was stated on Wednesday by Prime Minister of Ukraine Denys Shmyhal to international partners at a roundtable meeting organized by the International Monetary Fund and the World Bank in Washington, D.C., an Ukrinform correspondent reports.

"According to the second report (of the World Bank and the European Commission - ed.), Ukraine's long-term needs for reconstruction and restoration of the consequences of the first year of the war are estimated at $411 billion," the Head of Government of Ukraine said.

He also emphasized that for this purpose, Ukraine urgently needs to attract donor assistance in the amount of about $14 billion by the end of 2023.

"The restoration of Ukraine will be one of the largest investment projects in the history of Europe. But now we must pay the most attention to meeting urgent needs and recovery. I am referring to the $14.1 billion mentioned in the World Bank's estimates, and this is the number one priority for my country - to provide people with a minimum level of social and humanitarian services," the Prime Minister of Ukraine emphasized.

In this context, he thanked the decisions of the International Monetary Fund, the World Bank, the European Union, the UN, the G7, and the US government for the steps they had already taken to provide a significant part of this much-needed assistance. He also called on international partners to join other initiatives, including the replenishment of the Ukraine Recovery, Rehabilitation and Transformation Trust Fund (URTF) established by the World Bank.

In this regard, the Prime Minister assured that Ukraine is fully open and transparent in terms of financial accountability and provides all necessary information to donors.

As Ukrinform reported, the Prime Minister of Ukraine began the major part of his visit to the United States on Wednesday. The program of Denys Shmyhal's stay in Washington includes his participation in the annual Spring Meetings forum organized by the World Bank Group and the International Monetary Fund. Besides, he is scheduled to meet with U.S. Secretary of Defense Lloyd Austin, U.S. Secretary of Commerce Gina Raimondo, U.S. Secretary of the Treasury Janet Yellen, as well as with the leadership of the IMF, the World Bank, and the European Investment Bank.