Minister of Finance of Ukraine Sergii Marchenko met with Deputy Minister of Industry, Trade and Tourism of Spain Xiana Margarida Méndez Bértolo.

Ambassador Extraordinary and Plenipotentiary of Spain to Ukraine Ricardo López-Aranda Jagu also took part in the meeting.

The parties discussed the current economic situation in Ukraine, as well as potential areas of cooperation between Ukraine and Spanish business in recovery.

Sergii Marchenko thanked the partners for their support and congratulated Spain on the start of its presidency in the EU Council:

“The Kingdom of Spain is an important partner of Ukraine and we strive to further deepen our cooperation. I am sure that during Spain’s presidency of the EU Council, Ukraine will receive strong support from European countries.”

From February 24, 2022, Spain provided Ukraine with USD 50 million of direct budget support.

During the meeting, the Minister of Finance noted that the macro-financial situation is currently stable thanks to an effective financial policy and regular inflows of international financial support.

At the same time, Sergii Marchenko emphasized the needs of the State Budget in 2024 for financing the budget deficit. In this context, the parties discussed the new initiative of the EU – Ukraine Facility, for 2024-2027. The program envisages the allocation of EUR 50 billion to finance the budget deficit and recovery.

Regarding the involvement of Spanish business in the recovery of Ukraine, the parties discussed potential areas of cooperation. In particular, infrastructure, agro-industrial sector, energy, including renewable energy, IT and healthcare.

The Deputy Minister of Industry, Trade and Tourism of Spain announced the visit of an association of Spanish entrepreneurs to Ukraine in September 2023. The aim is to discuss in detail the participation of Spanish business in the recovery.

“It is important for us not just to recover everything as it was before the war. Recovery should take place according to the build back better principle. I am sure that the participation of Spanish business and the experience of European countries will help us on this path,” said Sergii Marchenko.

The parties agreed to continue constructive dialogue and consultations on attracting Spanish business to Ukraine.