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Ukraine needs $10 to 30 billion in annual investments over next 10 years - Ukrainian PM

Ukraine needs $10 to 30 billion in annual investments over next 10 years - Ukrainian PM Photo: Prime Minister of Ukraine Denys Shmyhal (Getty Images)
Author: Daryna Vialko

Ukraine needs between 10 to 30 billion dollars in annual investments from partners over the next 10 years, stated Ukrainian Prime Minister Denys Shmyhal during the Multi-Agency Donor Coordination Platform meeting within the framework of the Ukraine Recovery Conference in Berlin.

According to him, the top priority of the donor platform is the financial stability of Ukraine.

"It is also crucial for us that your support is predictable, smooth, and consistent. We need reconstruction, access to foreign markets, and improved logistics. We need foreign investment and technology transfer from our partners," the Prime Minister said.

He noted that Ukraine needs $10 to 30 billion in annual investments over the next 10 years.

According to Shmyhal, the Ukrainian government has launched a series of economic stimulus programs that have yielded positive results.

"Last year, GDP recovered by 5.3%. In the first 4 months of this year, it grew by 4.4%. There is an increase in exports and investments," he said.

Shmyhal also emphasized that one of the priorities now should be the transfer of Russian frozen sovereign assets for Ukraine's sustainability and recovery.

According to him, for a rapid economic recovery in the face of war, it is also important for Ukraine to establish a long-term plan for systemic financial support until 2027. And it is the coordination platform that should become a hub for developing such a plan to ensure Ukraine's macroeconomic stability.

In addition, the Prime Minister noted that after Russia's unprecedented attacks on Ukraine's energy system, the energy sector needs special support.

"More air defense systems, more energy equipment, facilitating the expansion of electricity imports to Ukraine, and assistance in decentralizing the energy system," the Prime Minister added.

Today, June 11, the Ukraine Recovery Conference is taking place in Germany, with President Volodymyr Zelenskyy among the participants.