Ninth meeting of the Multi-agency Donor Coordination Platform for Ukraine takes place in Kyiv

The 9th meeting of the Steering Committee of the Multi-agency Donor Coordination Platform for Ukraine took place. For the first time, representatives of the Government of Ukraine, the G7 countries and the European Union held an offline event in Kyiv. The visit of Ukraine’s key partners is a manifestation of solidarity with the Ukrainian people and an important signal of readiness to deepen cooperation with Ukraine.

The agenda included meeting Ukraine’s budgetary needs for 2024 and 2025, rebuilding and implementing structural reforms.

For the first time, representatives of the Government of Ukraine, the G7 countries and the European Union held an offline event in Kyiv. The visit of Ukraine’s key partners is a manifestation of solidarity with the Ukrainian people and an important signal of readiness to deepen cooperation with Ukraine.

The agenda included meeting Ukraine’s budgetary needs for 2024 and 2025, rebuilding and implementing structural reforms.

The event was attended by Prime Minister of Ukraine Denys Shmyhal, Co-Chair of the Platform from Ukraine, Minister of Finance Sergii Marchenko, First Deputy Prime Minister and Minister of Economy Yuliia Svyrydenko, Deputy Prime Minister for Recovery and Minister of Community Development, Territories and Infrastructure Oleksandr Kubrakov, Director-General for Neighborhood and Enlargement Negotiations Gert-Jan Koopman from the European Commission, White House Deputy National Security Advisor for International Economics Daleep Singh, and U.S. Special Representative for Ukraine’s Economic Recovery Penny Pritzker representing the United States, as well as representatives of the G7 countries, the European Commission, and international financial institutions.

In his opening remarks, Prime Minister Denys Shmyhal emphasized three strategic objectives: ensuring predictable budget support, laying a solid foundation for economic resilience that will help reduce the budget deficit, and using frozen russian assets for Ukraine’s needs.

The Co-Chair of the Platform from Ukraine, Minister of Finance Sergii Marchenko, spoke about the state and needs of financing for 2024-25 in the context of a full-scale war.

“The Ministry of Finance is actively working to increase State Budget revenues. Measures to support budget liquidity in the first quarter of 2024 allowed us to increase domestic revenues by USD 5.4 billion. At the same time, in the context of a full-scale war, when the aggressor has much more resources and causes million-dollar losses to Ukraine every day, international support is crucial. In 2024, external funding reached USD 10.2 billion. I am grateful to the EU, Japan, Canada, the IMF, the UK, and Norway for their budget support, which is directed to the country’s priority social needs,” said Sergii Marchenko.

During the discussion of rapid recovery, it was noted that rebuilding the energy sector is a significant challenge. The recent shelling has left millions of people without reliable access to electricity. Almost 80% of Ukraine’s thermal power plants were destroyed. Restoring the energy infrastructure is essential for the security of Ukrainians and the development of the country’s economy.

The participants agreed that engaging the private sector is one of the priorities for effective recovery.

The participants of the Platform emphasized their unwavering support for Ukraine and readiness to strengthen cooperation to strengthen Ukraine’s economy and accelerate the victory in the war.

The next meeting of the Platform’s Steering Committee is scheduled to take place on the sidelines of the Ukraine Recovery Conference in Berlin this June.

Background

The Donor Coordination Platform was established to coordinate support for Ukraine’s immediate financial needs, reconstruction and future economic recovery from various sources and identified funding instruments. The Steering Committee of the Platform consists of senior officials from Ukraine, the G7 countries and the European Union. International financial institutions and organisations also participate in the Steering Committee meetings as active participants.

The Steering Committee is co-chaired by senior officials from the United States, the European Commission and Ukraine: Daleep Singh, Deputy National Security Advisor for International Economics, on behalf of the United States, Gert Jan Koopman, Director-General at the European Commission’s Directorate-General for Neighbourhood Policy and Enlargement Negotiations, on behalf of the European Union, and Sergii Marchenko, Minister of Finance of Ukraine, on behalf of Ukraine.