Ukraine will create four restoration funds – Prime Minister

THURSDAY, 3 MARCH 2022, 19:31

The Cabinet of Ministers of Ukraine started working on the creation of four funds whose resources will go towards restoring Ukraine.

The Prime Minister of Ukraine Denys Shmygal stated this during an address.

"By order of the president, the government is beginning work on the creation of four funds. The money in these funds will go toward rebuilding Ukraine," Shmygal said.

The first is the Fund for Restoring Destroyed Property and Infrastructure. 

"We will restore everything that the Russian occupiers have destroyed. Every building, every apartment, every school, every kindergarten and hospital, every bridge and road," the prime minister said.

The second is the Fund for Innovating and Transforming the Economy.

"We will ask our partners to approve for us a so-called Ukrainian Marshall Plan. We need to not just restore our economy. We will build a new European nation," he said.

The Third is the Fund for Servicing and Paying Off Debt.

"Despite the war, Ukraine is performing all of its obligations. On 1 March, the Ministry of Finance conducted a coupon payment of $292 million for euro bonds. However, we believe that the world should help and support Ukraine, understanding the burden we are under today," Shmygal noted.

The fourth is the Fund to Support Affected Businesses.

"We see how many entrepreneurs and companies are helping our soldiers, doctors and everyday Ukrainians. They all joined together for the common goal of expelling the enemy from our land. Our job is to help businesses return to normal operation, normal life, normal existence," the Prime Minister stated.

Ekonomichna Pravda