The Power Within: The Kyiv Independent’s first-ever magazine. Be among the first to get it.

pre-order now
Skip to content
Edit post

Ukraine receives over $42 billion from international partners in 2023

by Martin Fornusek February 20, 2024 9:06 AM 2 min read
The headquarters of Ukraine's Finance Ministry in Kyiv on March 17, 2012. (Vincent Mundy/Bloomberg via Getty Images)
This audio is created with AI assistance

Ukraine received $42.5 billion in external financing last year, of which $11.6 billion were non-refundable grants, the Finance Ministry announced on Feb. 19.

Foreign aid is crucial for Ukraine as the economic pressure caused by the full-scale Russian invasion grows. Finance Minister Serhii Marchenko said previously that the country would need at least the same sum in external financing in 2024 as last year.

The largest grant assistance in 2023 was provided by the U.S. ($11 billion), followed by Japan ($230.5 million), Norway ($190 million), Germany ($105 million), Spain ($50 million), Finland ($36 million), Switzerland ($30 million), Ireland ($21 million), Belgium ($3 million), and Iceland ($2 million).

As part of the overall financing last year, Ukraine also received $30.9 billion in long-term loans, including $19.5 billion from the EU, $4.5 billion from the International Monetary Fund (IMF), $3.4 billion from Japan, $1.8 billion from Canada, $1 billion from the U.K., $660 million from the World Bank, and $50 million from Spain.

As of Dec. 31, 2023, Ukraine's state and state-guaranteed debt amounted to Hr 5.5 trillion ($145 billion).

Ukraine has long faced uncertainty about whether it could secure external financing for 2024 as well. After long delays, the EU approved on Feb. 1 the four-year support of 50 billion euros ($54 billion).

In turn, $60 billion from the U.S., of which roughly $10 billion is allocated to support Ukraine's non-military spending and private sector, remains stalled by disputes in Congress.

Shmyhal: Japan to allocate $1.3 billion to support Japanese investors in Ukraine
The Japanese Foreign Ministry also announced 15.8 billion yen ($105 million) in aid to Ukraine in the form of grants.

News Feed

8:06 AM

Zelensky arrives in South Africa to meet President Ramaphosa.

"We count on South Africa’s meaningful participation in the International Coalition for the return of thousands of Ukrainian children abducted by Russia. We will also certainly strengthen our cultural and educational ties," President Volodymyr Zelensky said.
5:30 AM

Trump says he may meet Putin 'shortly' after May Middle East visit.

Despite ongoing ceasefire negotiations, Trump and Putin have yet to have direct contact, communicating only through their officials. Trump's last in-person encounter with his Russian counterpart was during the 2018 Helsinki Summit during the U.S. president's first term.
8:08 PM

Ukrainians react to US proposal of recognizing Crimea as Russian.

The U.S. media outlet Axios reported on April 23 that the U.S. President Donald Trump administration's final proposal for ending the Russia-Ukraine war included the U.S. de jure recognizing Russia's annexation of Crimea and de facto recognizing its control of other occupied Ukrainian territories. We asked Kyiv residents for their reactions to the U.S. proposal.
7:21 PM  (Updated: )

Trump says 'nobody is asking' Ukraine to recognize Crimea as Russian.

"Nobody is asking (President Volodymyr) Zelensky to recognize Crimea as Russian Territory, but if he wants Crimea, why didn’t they fight for it eleven years ago when it was handed over to Russia without a shot being fired?" U.S. President Donald Trump wrote.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.