During the IMF and the World Bank Spring Meetings in Washington, Minister of Finance of Ukraine Sergii Marchenko held several meetings with finance ministers of partner countries. In particular, with Minister of Finance of Lithuania Gintarė Skaistė and Minister of Finance of Poland Magdalena Rzeczkowska.
Deputy Minister of Finance Olga Zykova, Deputy Minister of Finance for European Integration Yuriy Draganchuk and Government Commissioner for Public Debt Management Yuriy Butsa also took part in the meetings.
During the meetings, the parties discussed the current economic situation in Ukraine, the state budget deficit, as well as the need for rapid recovery and further reconstruction.
Sergii Marchenko thanked partner countries for their assistance to Ukraine and expressed hope for further fruitful cooperation between the ministries of finance.
“We are grateful to the Governments and peoples of friendly countries for the comprehensive support of Ukraine since the beginning of the full-scale invasion of the russian federation. Currently, the Government of Ukraine must continue to ensure all priority expenditures of the state budget and maintain a stable economy despite the existing high uncertainty in the country. We hope for further cooperation with international partners, which will bring us closer to victory,” said Minister of Finance of Ukraine Sergii Marchenko.
During the meetings with the finance ministers of the partner countries, special attention was paid to discussing the needs of Ukraine’s rapid recovery. In his turn, Sergii Marchenko emphasized the need to start the rapid recovery of Ukraine already this year, in particular, the recovery of energy, housing, critical and social infrastructure that provide basic services for the most vulnerable segments of the population, as well as demining and the development of the private sector.
The Minister of Finance of Ukraine also noted that he counted on the support of international partners in the realization of a rapid and large-scale recovery. The new Multi-Agency Donor Coordination Platform for Ukraine involving the G7 countries and the European Commission should become a reliable tool for mobilizing and coordinating the necessary funding.
In March, the Second Ukraine Rapid Damage and Needs Assessment (RDNA2) report was presented, developed jointly by the Government of Ukraine, the World Bank Group, the European Commission and the United Nations. The report presents findings on Ukraine’s losses from the russian war between February 24, 2022 and February 24, 2023. The report also assesses the country’s short-, medium-, and long-term reconstruction and recovery needs.
At the beginning of April, the second meeting of the Steering Committee of the Multi-Agency Donor Coordination Platform for Ukraine was held. The initiative was launched to coordinate existing and new mechanisms for supporting Ukraine’s budget, as well as rapid recovery and reconstruction.