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Ukraine needs $17 bn in additional financing for energy repairs: PM Denys Shmyhal

This year we need to finance a huge budget deficit of about $38 billion, Shmyhal said
Last Updated 27 January 2023, 17:35 IST

Ukraine will need an additional $17 billion in financing this year for energy repairs, de-mining and to rebuild infrastructure, Prime Minister Denys Shmyhal said on Friday.

He told a government meeting that five high-voltage substations in the central, southern and south-west regions were hit during Russia's air attacks on Thursday.

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The energy sector has been severely damaged following four months of Russian missile and drones attacks. Shmyhal said the government hosted a meeting with Western partners this week to coordinate financial support in a transparent and efficient way.

"This year we need to finance a huge budget deficit of about $38 billion. Another $17 billion this year will be needed for fast reconstruction of the energy, humanitarian de-mining, rebuilding of the housing, critical and social infrastructure," Shmyhal said at the meeting.

The government also said it was setting up a state agency for infrastructure recovery and development. Mustafa Nayem, a prominent former journalist who had been a deputy infrastructure minister since 2021, would head the newly-created agency.

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(Published 27 January 2023, 17:35 IST)

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