Today, the 6th Steering Committee of the Multi-agency Donor Coordination Platform for Ukraine met in person in Brussels to discuss Ukraine’s financing needs beyond 2023 as well as its vision for recovery, reconstruction and modernisation and the absorption capacity of donor financing for 2023 rapid recovery needs and project implementation.
Following the proposal of the 2024 state budget, the Government of Ukraine outlined its budgetary and rapid recovery needs beyond 2023. It also informed the Steering Committee members on the progress with the absorption of donor financing for 2023 rapid recovery needs and project implementation. In this context, the Steering Committee agreed on the need to support Ukraine in this process going forward, including with possible technical assistance and advisory support.
The Government of Ukraine, the Commission and the International Monetary Fund updated the Platform Members on Ukraine’s progress on reforms essential to Ukraine’s economic future. The Platform members discussed ways to support Ukraine in its reform plans. The Government of Ukraine presented the work ongoing on the Ukraine Plan, a medium-term growth strategy for the country, which had 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 discussed the possibility of using the Ukraine Plan as a point of reference for coordinated donor support and reform/investment roadmap. The Steering Committee exchanged views on the Ukraine Plan and agreed to work further on a sectoral basis, through the organisation of sectoral workshops by the Government of Ukraine and the Secretariat.
The Steering Committee will continue to meet regularly.
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 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 US Deputy National Security Advisor for International Economics Mike Pyle. Minister of Finance of Ukraine Sergii Marchenko, the first Deputy Prime Minister, Minister of Economy of Ukraine Yukia Svyrydenko and the US Special Representative for Ukraine’s Economic Recovery Penny Pritzker also participated.
For More Information
Donor Coordination Platform for Ukraine website
Details
- Publication date
- 26 September 2023
- Author
- Directorate-General for Neighbourhood and Enlargement Negotiations