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Ukraine seeks $40bn to expand its green steel industry

According to a senior Ukrainian official, Ukraine is seeking up to $40 billion to reconstruct its economy, which includes creating a steel sector free of coal.

According to Reuters, Rostyslav Shurma, a deputy head of President Volodymyr Zelenskiy’s office, said that the iron and steel industry would be the first area to receive investments because it accounted for about 600,000 jobs and 10% of the country’s GDP in 2021.

Additionally, it was responsible for 15% of the nation’s carbon emissions, which, according to Shurma, highlights the potential for developing a sector reliant on renewable energy.

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