Minister of Finance of Ukraine Sergii Marchenko met with the Italian Foreign Ministry’s Special Envoy for the Reconstruction of Ukraine, Davide La Cecilia.

The meeting was also attended by Deputy Minister of Finance Olga Zykova and Ambassador Extraordinary and Plenipotentiary of Italy to Ukraine Carlo Formosa.

The Minister of Finance thanked the Italian government for its comprehensive assistance this year during the Italian G7 presidency: “Italy’s leadership in supporting Ukraine, in particular the launch of the EU’s Ukraine Facility, is a significant contribution to the macro-financial stability of the country on its way to EU membership.”

Since the beginning of the full-scale invasion, Italy has been one of the first countries to support Ukraine, providing EUR 310 million in direct budget support, including about a third in grants.

The parties discussed cooperation within the Multi-agency Donor Coordination Platform for Ukraine and preparations for the next meeting of the Platform’s Steering Committee. The event will be held on 9 October 2024 in Rome, Italy, with the participation of representatives of the G7 countries, the European Commission and international financial institutions.

Concerning the Platform, it was noted that during the next meeting, it is planned to consider the developed list of priority investment projects as part of the preparation of the Single Project Pipeline by 2025. As a result, this will help improve the efficiency of using limited funding in accordance with the priority needs of Ukraine.

In addition, during the meeting in Rome, the member countries of the Platform will focus on the updated needs of the State Budget for 2025, as well as on the progress in the development of the Extraordinary Revenue Acceleration Loans for Ukraine (ERA) mechanism, which will amount to about USD 50 billion, using the profits from the frozen russian assets.

The Minister of Finance said that next year, a significant need for external financing will remain. Thus, cooperation with partners is one of the key priorities of the Government of Ukraine.

In his turn, Davide La Cecilia assured that the Italian Government is committed to comprehensive support for Ukraine.