On April 10, 2023, during a working visit to the United States, Minister of Finance of Ukraine Sergii Marchenko met with Managing Director of the International Finance Corporation Makhtar Diop.
The meeting was also attended by Deputy Minister of Finance for European Integration Yuriy Draganchuk.
The parties discussed the prospects of expanding cooperation between Ukraine and the International Finance Corporation in attracting financing for the reconstruction of the country and supporting Ukrainian business.
Sergii Marchenko spoke about the devastating consequences of the war, as well as the cost of large-scale recovery of the country.
According to the RDNA2 report by the Government of Ukraine, the World Bank Group, the European Commission, and the United Nations, the cost of rapid recovery for 2023 is estimated at USD 14.1 billion. USD 3.3 billion of the required funds have already been allocated from the State Budget of Ukraine.
“Even in the conditions of war, we are already starting to implement a recovery plan. However, a large-scale recovery, estimated at USD 411 billion, will require significant efforts by the Government of Ukraine, international donors and the private sector. Cooperation with the International Finance Corporation may become one of the tools to raise funds for the reconstruction of the country,” Sergii Marchenko emphasized during the meeting.
The Minister of Finance of Ukraine emphasized that the development of the private sector was one of the five priorities for rapid recovery and was estimated at USD 2.8 billion for 2023.
Makhtar Diop assured of his support for Ukraine and willingness to deepen cooperation to implement the recovery plan for Ukraine and provide additional support to Ukrainian business.