NBU governor reveals Ukraine's financial needs until year-end

NBU governor reveals Ukraine's financial needs until year-end

There is currently no reduction observed in financial support for Ukraine.

That’s according to Andriy Pyshnyi, the Governor of the National Bank of Ukraine, who spoke with The Banker.

The NBU is closely monitoring the situation in donor countries as such concern is “natural”, Pyshnyi stated

Since year-start, Ukraine has received over $35 billion in financial support while the country needs $45 billion before year-end, the top banker noted, expressing hope that Ukraine will eventually receive these funds and that the necessary solutions will be found to this end.

Read also: EBRD wants to increase capital by EUR 4B to provide significant investment for Ukraine

Pyshnyi also expressed confidence that the $300 billion worth of assets of the Russian Central Bank, frozen in Western jurisdictions, will be allocated for the efforts to rebuild Ukraine.

"The debate about the legal basis for the transfer of Russian assets to Ukraine is ongoing, but recently the discussion about transferring to Ukraine the proceeds received from Russian assets that remain in circulation has intensified. Ukrainian diplomats and lawyers are working hard to this end," said the NBU governor.

As Ukrinform reported earlier, in October, EU leaders approved plans to use the proceeds from frozen Russian assets held by the European International Central Securities Depository, Euroclear, in Brussels to help Ukraine. The European Commission is expected to submit relevant legislative proposals as early as next month.

Photo: NBU

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