The representatives of the Ukrainian Finance Ministry have met with a delegation of the United Kingdom to discuss budget needs, progress in reforms, and cooperation with the International Monetary Fund (IMF).
The relevant statement was made by the ministry’s press service, an Ukrinform correspondent reports.
The meeting was attended by Ukrainian Finance Deputy Minister Denys Uliutin, Ukrainian Finance Deputy Minister Olga Zykova and Government Commissioner for Public Debt Management Yuriy Butsa, as well as Second Permanent Under-Secretary at the UK Foreign, Commonwealth and Development Office (FCDO) Nick Dyer and the representatives of the British Embassy in Ukraine.
As noted by Uliutin, with the support of the United Kingdom, since the Russian full-scale invasion started, Ukraine has raised USD 3 billion in budget support to the state budget general fund and about USD 1 billion in proceeds from the frozen Russian assets to the special fund for military expenditures.
Additionally, USD 3 billion was disbursed in three tranches during 2022-2024 through the World Bank’s Development Policy Loan (DPL) programme. In 2025, Ukraine’s state budget received USD 1 billion in proceeds from the frozen Russian assets under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) mechanism.
This year, the United Kingdom is expected to provide an additional USD 1 billion in assistance through the DPL programme. The next tranche under the ERA initiative is also expected to arrive in the near future.
At the meeting, the parties noted Ukraine’s progress in cooperation with the IMF, namely the successful completion of the seventh review of the Extended Fund Facility (EFF) Arrangement. The ministry emphasized that active preparations were underway for the eighth review, scheduled for June 2025.
Among other things, the parties discussed the Public Investment Management (PIM) reform in Ukraine and the United Kingdom’s support in this area. As mentioned by the ministry, the Single Project Pipeline was endorsed in 2024, containing 769 projects worth over USD 60 billion. Ninety-two projects have already been selected by the Government for financing.
The British side noted that they were considering further steps to strengthen technical support for the Ukrainian government in implementing the PIM reform.
A reminder that the priority areas of economic cooperation between Ukraine and the United Kingdom include industry, energy and construction, as well as expanding war risk insurance programmes.
Photo: mof.gov.ua
Source: Budget needs, reforms: Finance ministry, British delegation discuss cooperation
