A meeting of the Multi-Agency Donor Coordination Platform for Ukraine was held in London as part of the Ukraine Recovery Conference. During the event, Prime Minister Denys Shmyhal stressed the need to mobilise financial resources for the country’s urgent recovery.
“Our main focus today is on the financing and implementation of Ukraine’s recovery programme. We are focusing on five priorities for rapid recovery. These are housing, energy, critical and social infrastructure, humanitarian demining, and economic recovery. According to the World Bank’s RDNA2, USD 14.1 billion is needed this year to implement rapid recovery in the identified priority areas. Ukraine’s national budget has already earmarked USD 3.3 billion for recovery. Our international partners are ready to provide about USD 4 billion. With your support, we hope to mobilise close to USD 7 billion,” said Denys Shmyhal.
The Head of Government stressed the importance of the initiative to establish project management teams at ministries and expressed hope for their prompt launch.
Denys Shmyhal also emphasised the need for partner governments to participate in insuring business against war and political risks.
“We need to work on expanding business support instruments, including the introduction of war risk insurance mechanisms. This is impossible without the support of the Platform’s member states. The private sector is ready to invest in Ukraine and in recovery projects. The main request from businesses now is risk insurance and guarantees from their governments. We hope that by working together we will be able to find the best solutions and start implementing the relevant projects as soon as possible,” the Prime Minister said.