Ukraine's recovery plan to be prepared by mid-autumn

The so-called Ukraine Plan, which will unlock EUR 50 billion in EU funding for reconstruction and modernisation, should be ready by the end of October, deputy economy minister Oleksii Soboliev said.

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Mr Soboliev said the Ukrainian government will outline the plan by the end of July, with the final draft expected by the end of September, according to the Centre of Economic Strategy, a Ukrainian think tank.

The Ukraine Plan, which will address the issues of macro stability, public infrastructure investment, and private investment, will be worked out after consultations with businesses, local authorities, and the public sector.

"There is no need to include everything in a row, as the plan must be realistic. We will receive funds for its implementation," Mr Soboliev was quoted as saying.

"We also understand that EUR 50 billion for four years will not be enough to cover all the goals. That is why we have ambitions that the plan will include funds from G7 partners. However, those are only ambitions for now."

On June 20, at the Ukraine Recovery Conference in London, the European commission presented a Ukraine Facility, which provides for the allocation of EUR 50 billion in 2024-2027.

The funds in the form of grants and loans will be provided based on the implementation of the Ukraine Plan, which will be supported by a number of conditions and a payment schedule agreed with the EU.