Ukraine Expects U.S. Assistance Regarding Seized Russian Assets Finance Ministry
Date
10/12/2023 7:13:46 PM
(MENAFN- UkrinForm) The Ukrainian Finance Ministry expects that the United States and its allies will develop a mechanism to use the seized assets of the Russian Federation for the benefit of Ukraine.
The relevant statement was made by the Ukrainian Finance Ministry , following a meeting between Ukrainian Finance Minister Sergii Marchenko and Under Secretary of the U.S. Treasury for International Affairs Jay Shambaugh during the Annual Meetings of the World bank and the IMF, an Ukrinform correspondent reports.
“I am grateful for the rhythmic and predictable provision of funds this year, which allows us to ensure timely budget execution. The United States is one of the leaders in providing financial assistance to Ukraine. The amount of direct budget support has reached USD 22.9 billion since the start of the full-scale war,” Marchenko said.
The Ukrainian minister expressed hope that the United States and its allies will find and implement mechanisms to use the seized assets of the Russian Federation for the benefit of Ukraine.
“Russia's assets should become the basis for further financing the recovery and reconstruction of Ukraine,” Marchenko stressed.
When discussing the draft State Budget for 2024, it was outlined that the need for budget support in 2024 would be at the level of the current year. The budget deficit is projected at USD 42.9 billion. The Ukrainian Finance Ministry is counting on the support of international partners to finance priority social and humanitarian expenditures.
“The Ukrainian side emphasized that transparency and accountability in the use of funds from international donors is a priority of the Government of Ukraine and a key asset in building reliable partnerships,” the ministry added.
Ukraine's Finance Ministry and the USAID SOERA project are cooperating closely together to optimize and strengthen the Ukrainian government's monitoring, verification and reporting systems for the use of donor funds.
In his turn, Shambaugh confirmed that the United States would continue to support Ukraine.
Photo: gov
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