Over the next two weeks, Ukraine and its partners will work out in detail what sources of funding can be allocated for the implementation of the Ukraine prosperity plan, which is being developed as part of the peace agreement, how much of this funding can come from public sources, and how much can be financed by the private sector, said Minister of Economy, Environment, and Agriculture Oleksiy Sobolev.
“The $800 billion (total amount of the Ukraine Prosperity Plan – IF-U) comes from both private and public sources. According to our estimates, about $500 billion should come primarily from public sources: in the form of grants, some concessionary loans – that is, both what needs to be repaid and what does not need to be repaid,” Sobolev said at a briefing following the results of the economic block of consultations held in Kyiv on January 3 with national security advisers from 15 partner countries, the European Council, the European Commission, and NATO.
The minister added that at the same time, work will be done to determine which sectors of the economy have enough projects for the next 10 years to attract the private sector, and through which instruments this capital can flow into Ukraine.
According to him, this work has been going on for a long time, with the involvement of the World Bank and the European Union, so preliminary calculations already exist.
“Now we need to agree with all countries on the figures for each sector and overall needs, as well as the sources that can be found over these 10 years,” Sobolev explained.
He noted that there is a desire to attract more funding from the private sector, as this provides additional investment in Ukraine and improves reforms.
“But the private sector comes after there is a security framework, a security guarantee, and macro-financial stability, which requires institutional funds, funds from countries. And when there are reforms, and when there is concession capital, which reduces the risks of working in Ukraine,” the Minister of Economy also noted.
He specified that the next meetings will be held in Paris on January 5 in order to develop a joint plan with the US, European countries, as well as Canada and Norway.
