At the beginning of his speech, Andrii shortly presented times immediately after the end of the Second World War and told about what the original Marshall Plan of those times was, how this European Recovery Program was implemented and what results it brought.

It was interesting to compare the following parallels and identify fundamental differences between the Original Marshall Plan and the “Marshall Plan” for Ukraine. Andriy highlighted the following of them:

Original Marshall Plan

• The original Marshall Plan was intended to reset Europe's postwar economy and further develop trade and political relations with the United States. Main channel: Government-Government

• The original Marshall Plan was significantly smaller per country both at current prices (about $ 173 billion in 2023 prices) and given the overall increase in European economies (Marshall Plan effect is about $ 1.2 trillion in current prices)

“Marshall Plan” for Ukraine

• ““Marshall Plan” for Ukraine is a large number of activities and programs that will pursue (and partly already pursue) a number of goals:

Reconstruction and modernization of Ukrainian infrastructure, industrial and non-production facilities ... ... in order to further integrate Ukraine into the EU as a full-fledged participant (investments in reforms, standards and restructuring of the economy and infrastructure). Example: investments in Ukrainian nuclear power plants for export development or creation of railway routes with European gauge Stimulation of entrepreneurship and general diversification of the Ukrainian economy (including regional) Stimulation of foreign economic activity of Ukrainian business Stimulating Western investment in Ukraine Investing in Ukraine's security and collective security of the  EU and NATO as a whole

• “March Plan” for Ukraine will be implemented through a large number of channels:

Government-Government — support for the Ukrainian budget, government programs, development and transformation of state monopolies (for example, Energoatom or Ukrzaliznytsia) EU-Government — financing programs for the development and transformation of a candidate for EU membership Intergovernmental agencies (e.g. IMF): support for foreign exchange reserves, financing of government programs Government agencies (for example, USAID) independently or through subcontractors: financing of state and non-governmental programs (for example, entrepreneurship development programs, etc.)   International financial institutions (EBRD, IFC, etc.) — financing of public and private projects, including through reliable Ukrainian banks (for example, preferential business lending) International funds and donors, private initiatives — financing public and private projects, providing grants to Ukrainian business

The biggest challenges faced by such a diversified program are, first of all, coordination between donors (to optimize efforts and not duplicate areas of assistance) and Ukraine's ability to absorb a large amount of international assistance. And the volumes can be considerable: the total need for financing can reach USD 500 billion, despite the fact that only budget support from partners for 2022 and 2023 can reach up to USD 70 billion and so far there is no chance that Ukraine will be able to fully support itself over the next few years.

It is also a fundamental difference from the real Marshall Plan: due to the preservation of Ukrainian air defenses, great destruction is regional in nature and a significant part of the economy is functioning, and budget assistance from donors allows the Ukrainian rear to exist relatively well.

We need to prepare for recovery, because we are talking about a structural transformation of the economy that will take many years, but the long-term results can be revolutionary.

Today, the courage of Ukrainians protects the whole of Europe and the world, so we believe that tomorrow our perseverance, supported by European values, resources and support, will rebuild Ukraine into a qualitatively new level.

We believe, we fight, we conquer.

The presentation is in Ukrainian. If you have any additional questions, please contact us.

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