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Kiev Needs $1.5Bln for Ukraine’s East Reconstruction

© AFP 2023 / SERGEI SUPINSKYA woman eats ice-cream next to a torned poster depicting Ukrainian 200-hrivnya banknote at the metro entrance in Kiev
A woman eats ice-cream next to a torned poster depicting Ukrainian 200-hrivnya banknote at the metro entrance in Kiev - Sputnik International
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Reconstruction of Ukraine's eastern regions will cost the country about $1.5 billion, Ukraine's Deputy Prime Minister and Regional Development Minister Hennadiy Zubko said in a televised interview with the national Fifth Channel.

A man stands next to an advertising placard showing British pounds, US dollars and Ukrainian hryvnia banknotes in the Ukrainian capital Kiev - Sputnik International
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MOSCOW (Sputnik) — The remark was made days after German and Ukrainian governments signed a memorandum of understanding on Berlin's allocation of a $539-million loan to Kiev.

The funds will be used for restoration of eastern Ukraine, including modernization of infrastructure and construction of housing, Zubko said on April 1.

"We are ready to offer both humanitarian response plan for the situation that arose in Ukraine, and the assessment of the reconstruction needs in Donbas that is about $1.5 billion," Zubko stated Saturday.

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Zubkov also announced the preparation for the international conference for the financial support of Ukraine slated for April 28. The participants of the conference may assist in collecting additional funds for Ukraine, the Ukrainian deputy minister highlighted.

Ukraine's economy has suffered a dramatic downturn since the launch of a military operation in April 2014 by Kiev against independence supporters in Donbas, who refused to recognize the government that came to power in Kiev after a coup.

Ukraine's authorities are currently trying to rescue the country's stagnant economy with the aid of international loans.

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