Overview
In October 2022, the Parliament of Ukraine (Verkhovna Rada) voted to amend the Law on the State Budget for the respective year, which involved the creation of a fund responsible for the elimination of armed aggression consequences. The Fund aims to finance restoration projects, including the construction of public buildings and shelters, reconstruction and repair of critical infrastructure, and housing for IDPs and people who lost their homes as a result of hostilities.
The sources of the Fund's revenues:
- UAH 35.9 billion got as 50% of the NBU's profit for 2022
- UAH 8.8 billion funds were received with the Law of Ukraine "On Basic Principles of Compulsory Seizure in Ukraine of Property of the Russian Federation and Its Residents" and the Law of Ukraine "On Sanctions" adoption.
- UAH 17 billion was the balance of funds as of January 1, 2023, under the "Fund for Elimination of the Consequences of Armed Aggression".
Article 29 of the Law of Ukraine, "On the State Budget of Ukraine for 2023", defines the areas of the Fund's resources use. As of 11.10.2023, UAH 50,6 billion has been allocated, of which:
- UAH 18.88 billion to construct, repair, and provide other engineering and technical measures to protect the critical infrastructure of the fuel and energy sector
- UAH 10.59 billion - to provide a subvention to local budgets for the implementation of projects (facilities, activities) aimed at eliminating the consequences of armed aggression
- UAH 8.50 billion - to implement a pilot project for the main water pipeline construction
- UAH 4.43 billion - for "eVidnovlennia"
- UAH 3.56 billion - for the Agency for Restoration to implement community projects
- UAH 3.35 billion - for financial support for the restoration of damaged and construction of new residential and public facilities for people who lost their homes as a result of hostilities, development and examination of project documentation for such facilities construction (pilot project)
- UAH 0.32 billion - to eliminate the consequences of the armed aggression of the russian federation caused by the explosion of the Kakhovka hydroelectric power plant dam in the Kherson region
- 0.54 billion UAH - to equip certain military facilities
- UAH 0.20 billion - for the Ministry of Veterans to reconstruct the social and psychological rehabilitation center
- UAH 0.18 billion - to implement two projects to restore damaged buildings of higher education institutions
- UAH 0.05 billion to restore the facilities of the State Emergency Service of Ukraine