On 19 December 2023, the Steering Committee of the Multi-agency Donor Coordination Platform for Ukraine met for the seventh time to discuss Ukraine’s budget needs for 2024, the extension of the Membership of the Platform and Ukraine’s progress on reforms, including with the preparation of the Ukraine Plan.
Ukraine’s Finance Minister Marchenko presented Ukraine’s 2024 budget needs, in particular in the first quarter of 2024, during which Ukraine will face challenges, which Prime Minister Schmyhal emphasized during his opening speech. Finance Minister Marchenko outlined the national measures already taken to address the situation. The International Monetary Fund updated the Platform Members on its programme, and Japan informed them about the latest discussions in the G7 finance track. Steering Committee members acknowledged the urgency, reiterated their commitment to supporting Ukraine, and discussed ways to help address Ukraine’s budgetary needs in early 2024, including by redeploying existing support, where possible.
The Steering Committee made significant progress on criteria for a possible expansion of the platform’s membership, which it expects to finalize shortly.
The Government of Ukraine presented the last developments in the preparation of the Ukraine Plan, a medium-term growth strategy for the country following four main goals, notably, to provide a coherent roadmap for Ukraine’s reforms and investments, boost growth potential, help rebuild and modernize, facilitate EU accession, and strengthen macro-financial stability. The Steering Committee members reiterated their commitment to coordinate on reforms under the Platform, with the view to achieving alignment and arriving at a consolidated list of reforms for the February Steering Committee meeting.
Following the historic decision taken by the European Council on 14 December to open accession negotiations with Ukraine, the Commission informed about the process going forward. The Commission updated the Steering Committee about next steps in relation to its proposal for the €50 billion Ukraine Facility.
The Steering Committee agreed on the importance of bringing private sector perspectives to the Platform, to further support Ukraine’s recovery and reconstruction. The Platform Secretariat will work with the members to bring it forward.
The Steering Committee will continue to meet regularly, with the next Steering Committee meeting foreseen in February.
Background
The Multi-agency Donor Coordination Platform for Ukraine was launched on 26 January 2023 with its inaugural Steering Committee meeting. It brings together high-level officials from Ukraine, the EU, the G7 countries, as well as partners from International Financial Institutions, notably the European Investment Bank, the European Bank for Reconstruction and Development, the International Monetary Fund and the World Bank, to coordinate efforts to address Ukraine’s financing needs, both in the short to medium-term.
The meeting was opened by Ukraine’s Prime Minister Schmyhal and the G7 Presidency and co-chaired by the European Commission Director-General for Neighbourhood and Enlargement Negotiations Gert Jan Koopman, together with the Deputy Prime Minister for Restoration of Ukraine and Minister for Communities, Territories and Infrastructure Development of Ukraine Oleksandr Kubrakov, and the Special Assistant to the President and Senior Director for International Economics Christina Segal Knowles. The First Deputy Prime Minister of Ukraine Yulia Svyrydenko and Minister of Finance of Ukraine Sergii Marchenko, and the US Special Representative for Ukraine’s Economic Recovery Penny Pritzker also participated.
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Details
- Publication date
- 20 December 2023
- Author
- Directorate-General for Neighbourhood and Enlargement Negotiations