Assistance in financing the budget deficit is one of the key issues on the agenda of the next meeting of the Steering Committee of the Multi-Agency Donor Coordination Platform for Ukraine to be held on 26 September. This was emphasised by Prime Minister Denys Shmyhal.

"We need to give our partners an understanding of the current financial situation, the budget for 2024, and the Government's expenditures. We expect our partners to support us in 2024 at the level not less than in 2023. This is about USD 42 billion. This requires daily and painstaking work with all our allies to raise this amount," said Denys Shmyhal.

According to the Prime Minister, the second issue to be discussed during the Platform's meeting is the need for rapid recovery in 2024. In particular, in five areas: energy, humanitarian demining, restoration of housing, critical and social infrastructure, and assistance to the private sector.

"Ukraine's rapid recovery needs remain at the level of up to USD 15 billion. This year, only part of the needs has been funded, and the rest of the costs will be shifted to 2024. We count on the support of international financial organizations and agencies, including the World Bank, the EBRD, the EIB, USAID, the Japan International Cooperation Agency, and others," the Prime Minister said.

According to Denys Shmyhal, during the Platform, it is also essential to negotiate with partners the possibility of creating a single map of reforms. That is, to bring the requirements for financial assistance from various donors into a single instrument and plan of reforms for Ukraine, which our country will implement on its way to the EU.

Background

The Multi-Agency Donor Platform was established to coordinate support for Ukraine's urgent financial needs, reconstruction, and future economic recovery from various sources and designated funding instruments. The Steering Committee of the Platform consists of senior officials from Ukraine, the G7 countries, and the European Union. The Co-Chair of the Steering Committee of the Platform from Ukraine is Oleksandr Kubrakov, Deputy Prime Minister for Restoration of Ukraine - Minister for Communities, Territories and Infrastructure Development.