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Ukraine receives over $40 billion in external financing last year – Finance Ministry

Monday, 19 February 2024, 22:56
Ukraine receives over $40 billion in external financing last year – Finance Ministry
Infographic: Ministry of Finance of Ukraine

Ukraine has received external financing totalling US$42.5 billion in 2023, of which US$11.6 billion (27%) was non-repayable grant aid.

Source: Ministry of Finance of Ukraine

Details: Grant aid was provided by the following countries: the United States, Japan, Norway, Germany, Spain, Finland, Switzerland, Ireland, Belgium, and Iceland.

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"Long-term concessional financing totaled USD 30.9 billion. This included loans from the EU (USD 19.5 billion), the IMF (USD 4.5 billion), Japan (USD 3.4 billion), Canada (USD 1.8 billion), the UK (USD 1 billion), the World Bank (USD 660 million), and Spain (USD 50 million).

Funds from the European Union were attracted as part of Macro-Financial Assistance. Loans under the EU Macro-Financial Assistance have a 35-year maturity (including a 10-year grace period), and the EU compensates the servicing expenses," the Ministry of Finance said.

As of the end of 2023, the weighted average cost of public and publicly guaranteed debt was 6.24%, which is 1.4% less than in the previous year, the ministry added.

At the same time, the weighted average maturity of Ukraine's public and publicly guaranteed debt increased by more than 2 years to 10.56 years last year. 

Overall, in 2023, the total amount of Ukraine's public and publicly guaranteed debt increased by UAH 1.444 trillion (USD 33.9 billion), mainly due to an increase in long-term concessional financing from international partners.

As of 31 December 2023, Ukraine's public and publicly guaranteed debt amounted to UAH 5.5 trillion (USD 145.3 billion).

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