Ukraine's recovery: up to 80% of projects are implemented at partners' expense

This was announced on 4 August by Oleksandr Kubrakov, Deputy Prime Minister and Minister of Communities, Territories and Infrastructure Development of Ukraine, Interfax-Ukraine reports.

"Currently, 80% of reconstruction projects are being implemented through the mechanisms of international financial institutions, in many cases at the expense of partners," the official said.

What is known about financing Ukraine's recovery

On 21-22 June, a regular Ukraine Recovery Conference was held in London. It is a continuation of the annual Ukraine Reform Conference held since 2017.

The largest share of financial assistance to Ukraine has been provided by the European Union, which plans to provide €50 billion in grants and loans to Ukraine. The support is expected to last for the next four years.

Among individual countries, the United Kingdom and the United States have contributed the most. On 21 June, London announced a "historic package of financial support for Ukraine" worth $3 billion to be provided over three years. Washington assured that it would provide Ukraine with $1.3 billion. The funds will be used, in particular, to restore the energy system, infrastructure, and to help businesses.

Other countries have also assured of substantial assistance. Germany promised to provide Ukraine with an additional €381 million in humanitarian aid in 2023. The Spanish government has pledged more than €250 million for the recovery and reconstruction of Ukraine. The Austrian Federal Government has agreed to allocate an additional EUR 18 million to help Ukrainians affected by Russian aggression.

The Ukrainian government has also signed a memorandum with the European Investment Bank on cooperation in Ukraine's recovery projects, which provides for the allocation of €840 million.