In 2024, the state budget received $41.7 billion of external financing.
Grants amounted to about $12.6 billion, around 30% of the total amount of financing. At the same time, Ukraine received all loans on concessional terms.
“The $41.7 billion in financial assistance represents a remarkable achievement, made possible through the dedicated efforts of the President of Ukraine, the Prime Minister, the Government, the Ministry of Finance and our international partners. This funding enabled us to fully cover all priority social and humanitarian expenditures in 2024, including old-age social payments, salaries for education and healthcare workers, social protection programs, and humanitarian aid. I am deeply grateful to all our partners for the cooperation, which has been instrumental in maintaining the country’s financial stability. While challenges persist in the new year, we have already made significant progress in mobilizing the necessary resources and are confident that priority expenditures will continue to be fully financed,” said Minister of Finance of Ukraine Sergii Marchenko.
The largest donors of budget support in 2024 were: the European Union, the United States of America, the International Monetary Fund, Japan, the World Bank, Canada and the United Kingdom.
Last year, Ukraine also received budget support from the Republic of Korea and the Council of Europe Development Bank for the first time. Cooperation with international partners has been strengthened, and the geography of partners continues to expand.
An important achievement is the attraction in 2024 of the first tranche of funds to be secured by future revenues from frozen russian assets under the G7 ERA Mechanism in the amount of $50 billion. $1 billion was attracted through the World Bank’s Second Growth Foundations Development Policy Loan program. For the first time, russia is actually beginning to pay for the damage it has caused to Ukraine.
All funds from international partners were used for the priority expenditures of the state budget. The Ministry of Finance is working closely with donors to ensure that every dollar of financial aid is used for its intended purpose. The trust of the partners is a key asset for continued cooperation.
In total, since the start of the full-scale war, international partners have provided over $115 billion to Ukraine. (Government portal)