Ukraine’s economy minister in Berlin: Ukraine needs $12-13B in investment immediately to ensure rapid growth

Ukraine’s economy minister in Berlin: Ukraine needs $12-13B in investment immediately to ensure rapid growth

Ukraine demonstrates economic stability, but in order to achieve rapid growth, the country needs some $12-13 billion woth of investment right now, without waiting for the war to end.

This was stated by the First Deputy Prime Minister, Minister of Economy Yulia Svyrydenko, who spoke at the Ukraine Recovery Conference in Berlin, according to an Ukrinform correspondent.

"Over the two years that have passed since the inaugural conference in Lugano, Ukraine has shown that we are working, seaports are working, and we have financial stability. We don't want to be destroyed, so we need your help," said Svyrydenko.

Read also: EU establishing EUR 1.4B investment support program for Ukraine

She noted that among the main priorities today is the restoration of energy generating capacities across Ukraine. And there are already a number of solutions that will help the nation create an additional 1 GW of generation in the near future, and 4 GW in the years to follow.

"We need to create such an energy system that will serve Europe for the next 50 years," the minister added.

According to the official, loans alone are not enough to ensure recovery. For long-term development and growth, economy needs investments.

"We are doing everything for rapid growth. But loans are not enough, we need investments. That is why we are here. In order for the economy to continue to grow, so that we can continue to develop, we need $12-13 billion worth of investments now, not after the war ends," Svyrydenko emphasized.

Read also: EUR 100M in compensation for destroyed housing: Ukraine signs agreement with European bank

As reported earlier, the Ukraine Recovery Conference is taking place today in Berlin with the participation of President Volodymyr Zelensky of Ukraine and German Chancellor Olaf Scholz.

More than 2,000 politicians, diplomats, business CEO, local officials, and civic leaders from different countries are taking part in the two-day event.

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