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International partners to provide Kiev with $115 bln — Ukrainian PM

World Bank President David Malpas said on Wednesday that Ukraine would need $11 bln additionally this year for covering key economic expenditures

Ukrainian Prime Minister Denys Shmygal REUTERS/Valentyn Ogirenko

Ukrainian Prime Minister Denys Shmygal

© REUTERS/Valentyn Ogirenko

MOSCOW, April 13. /TASS/. Ukraine’s international partners will provide the country with $115 bln in aid for reconstruction, Ukrainian Prime Minister Denis Shmygal said.

"[Our] international partners will provide $115 bln worth of long-term support to Ukraine. This will not only ensure our financial stability, but also send a clear signal that Ukraine’s allies will support us as long as necessary," he wrote on his Telegram channel overnight into Thursday.

This year’s rapid reconstruction projects will require $14 bln, the head of the Ukrainian cabinet said. "We are negotiating with our partners on the possibility of raising all required funds as early as this summer," he added. Shmygal also extended thanks to the US, the EU, the World Bank, the IMF, the G7 countries and all international partners, "who are helping to start reconstruction."

World Bank President David Malpas said on Wednesday that Ukraine would need $11 bln additionally this year for covering key economic expenditures. The World Bank managed to marshal more than $23 bln for Ukraine within the framework of fast-track funding, with $20 bln already earmarked, he added.

The international financial institution announced on Wednesday that a $200 mln grant had been allocated for recovery of Ukraine’s energy infrastructure with the possibility of raising additional financing in the amount of up to $300 bln.

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