During the working visit to Brussels, Belgium, Minister of Finance of Ukraine Sergii Marchenko held a number of bilateral meetings with the finance ministers of the partner countries. In particular, he met with Minister of Finance of Germany Jörg Kukies, Minister of Finance of Poland Andrzej Domański and Minister for Finance of Sweden Elisabeth Svantesson.
The meeting was also attended by Deputy Minister of Finance of Ukraine for European Integration Yuriy Draganchuk.
The main topics of discussion were the performance of key indicators under the Ukraine Facility program, the implementation of the Extraordinary Revenue Acceleration for Ukraine (ERA) initiative and the implementation of priority reforms for European integration.
Sergii Marchenko thanked for the significant financial assistance since February 2022. In total, budget support from the EU reaches EUR 45 billion.
The parties discussed the financial situation in Ukraine. As a result of the effective policies of the Government of Ukraine, together with international support, the financial system is demonstrating stability. The economy continued to grow in 2024. Domestic budget revenues increased by USD 9.4 billion compared to 2023. Domestic government bonds have become an important element in meeting budgetary needs, with USD 15.8 billion raised last year. External financing amounted to USD 41.7 billion.
Ukraine continues to make significant progress in implementing the Ukraine Facility. In the first three quarters of 2024, Ukraine performed 23 indicators, nine of which were met ahead of schedule. The country has adopted 16 strategic documents and 15 laws.
“This allowed us to attract EUR 16.1 billion to the State Budget in 2024. The indicators of the Ukraine Plan are also important steps in strengthening Ukraine’s economic stability and enhancing its institutional capacity. We continue to work to ensure the continuous implementation of reforms and to guarantee the trust of international partners. European integration is a constant priority of the Government of Ukraine,” said Sergii Marchenko.
The ministers paid special attention to discussing the ERA initiative, which provides financial support to Ukraine through the revenues from russia’s immobilized assets.
“I am grateful to the EU countries for supporting this mechanism. The frozen assets of the russian central bank in the EU constitute the majority of such frozen assets worldwide. Therefore, the costs of the loan will be covered mainly by the assets frozen in the EU,” the Minister of Finance said.
The total amount of the initiative is USD 50 billion, of which about USD 20 billion (EUR 18.1 billion) is a part of the European Union.
Sergii Marchenko emphasized that the support of the EU countries is not limited to budgetary funding. It also includes significant military and humanitarian aid and sanctions against the aggressor country.
In 2014-2025, financial assistance from the EU has already reached EUR 50 billion.