In 2023, the Government of the Netherlands will support Ukraine in restoring critical infrastructure and providing comprehensive assistance in the security and humanitarian spheres.

On 2 April, First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko and Deputy Prime Minister – Minister of Finance of the Netherlands Sigrid Kaag discussed the participation of the Netherlands in the reconstruction of Ukraine, ways to intensify bilateral cooperation and the economic situation in Ukraine.  

“Today, the reconstruction of Ukraine is the most ambitious project of the 21st century that requires huge resources, but at the same time opens up new opportunities for business cooperation. According to the World Bank, Ukraine’s reconstruction needs are USD 411 billion. The Netherlands is a reliable international partner of Ukraine, which contributes to the fight against russian aggression and further reconstruction of the country,” said Yuliia Svyrydenko.

The First Deputy Prime Minister thanked the Dutch side for the energy equipment provided, which was extremely important to restore the energy infrastructure damaged by the attacks of the aggressor state.

The parties discussed the prospects for businesses in both countries to participate in reconstruction projects in Ukraine. This year, Ukraine needs USD 14 billion to cover the most important needs: rebuilding housing, social infrastructure, schools, hospitals, orphanages, restoring businesses and creating conditions for their operation. This figure also includes the needs of the private sector, whose support is expected both through the implementation of government programs such as Ye-robota and interest rate compensation under the 5-7-9 program as well as through the involvement of MFI infrastructure for direct lending by the IFC and the EBRD and the creation of a separate international trust fund for war risk reinsurance. 

“Currently, Ukraine has identified five early recovery priorities: energy infrastructure, humanitarian demining, housing reconstruction, critical and social infrastructure and support for the private sector, in particular small and medium-sized businesses.  The Government of Ukraine sees great prospects for involving Dutch companies in the recovery process, for which the possibility of restoration and expansion of limits by the Dutch ECA, Atradius, is being studied separately. At the same time, war risk insurance is a key issue for investors. The Government is already working with its international partners to create a special international trust fund that will allow the G7 export credit agencies, organizations such as MIGA, DFC, as well as international private players in the insurance sector to be involved in insurance,” said Yuliia Svyrydenko.