Predictable and consistent budgetary support and energy sector reconstruction are the main priorities of the Multi-Agency Donor Coordination Platform for Ukraine. This was stated by Prime Minister of Ukraine Denys Shmyhal during the tenth meeting of the Platform on 10 June.
The Head of Government stressed that over the past few months, russia had destroyed more than 9 GW generating capacity, and Ukrainians had been deprived of stable electricity supplies, sometimes for as long as 12 hours a day.
"We have to prevent a humanitarian catastrophe and not let russia win on the energy front. The Government of Ukraine has identified 4 key tasks to cope with this challenge," said Denys Shmyhal and called on partners to help implement them.
The first task, according to the Prime Minister, is to have a sufficient quantity of air defence systems. Air defence, he said, is extremely important for the protection of cities, energy sector and economy.
The second task is to rapidly rebuild and repair damaged plants and equipment. More than EUR 500 million has already been accumulated in the Energy Support Fund, but, according to the Prime Minister, Ukraine's needs are considerably larger.
Decentralisation of the energy system is the third task set by the Government. This means installing numerous small generation facilities across the country, which will be difficult to hit. The fourth task is to finance energy efficiency measures. According to the Prime Minister, this aspect opens up plenty of opportunities for joint initiatives and projects.
Denys Shmyhal stressed that despite the war, Ukraine keeps on transforming and reforming. "Last week, we presented the Reform Matrix, a huge plan of changes that includes all the official recommendations and conditionalities from our partners from the EU, the IMF and the World Bank. In total, there are more than 200 reforms for 2024.
This tool will help to systematise all reforms and conditionalities, check the status of their implementation, and prioritise reforms depending on their impact on the economy and recovery.
According to the Head of Government, the assistance of partners is needed to eliminate macroeconomic risks, which is possible thanks to long-term external financing programmes. Support is also needed for rapid recovery, including access to foreign markets and improved logistics. External investment and technology transfer from partners are critical for rapid growth.
Denys Shmyhal stressed that there was a concrete list of priority sectors for investment. These include the defence industry, energy, critical raw materials, processing in the agricultural sector and construction, including the production of building materials.
The Prime Minister thanked all the members of the Platform for their commitment to common goals, effective coordination and readiness to support Ukraine as long as it takes.