Economic "peace deal" for Ukraine includes grants and loans
Ukraine's Minister of Economy Oleksii Sobolev has said that the economic part of its US$800 billion "peace package" has included not only grant funding but also loans.
Source: Sobolev at a press conference after an economic panel with advisers to Western leaders in Kyiv, as reported by European Pravda
Details: The minister said that the announced figure of US$800 billion will tap into a mix of funding streams.
Quote: "The estimated figure for the next 10 years, US$800 billion, includes both private and public sources. By our calculations, around US$500 billion should come from public sources in the form of grants and concessional loans, meaning it will include funding that must be repaid and funding that does not need to be repaid."
More details: The remaining US$300 billion, if the same split is maintained, will come from private capital investment, which does not constitute grant funding by nature.
Sobolev also said that the US$800 billion figure for the next decade has been agreed with partners, including the World Bank and the EU.
Quote: "There has been a lot of work done with the World Bank and the European Union. Now we need to agree the sector-by-sector figures with all countries, the overall needs and the sources we can find over these 10 years."
Background:
- Deputy Prime Minister Taras Kachka has said that the US$800 billion deal for Ukraine is agreed with the EU and does not contradict accession conditions.
- The Ukrainian PM earlier spelled out what Ukraine can cover with US$800 billion under an economic "peace deal"
- US representative Steve Witkoff also took part in the economic panel via video link.
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