On Tuesday, 26 September, the First Deputy Prime Minister of Ukraine/ Minister of Economy of Ukraine, attended a meeting of the Multi-Donor Coordination Platform aimed at ensuring broad participation of Ukraine's partner countries and international financial organisations in the process of reconstruction and development of the country.

During the meeting, the Ministry of Economy of Ukraine presented the concept note of the Ukraine Plan under the Ukraine Facility programme of the European Union, key areas of further work, current needs, as well as priority areas requiring funding to ensure macroeconomic stability of the state.

The Ukraine Facility programme creates a solid foundation for the country's recovery and development. Nevertheless, the financing needs for Ukraine's post-war recovery far exceed the programme's scope and are estimated by experts at EUR 400-500 billion.

With this in mind, one of the key tasks of the Ukraine Recovery Plan is to serve as a basis for further negotiations with partners to expand the programme and build a transparent recovery architecture. The developments within the framework of the preparation of the Ukraine Plan will form the basis for further negotiations with a wider range of partner countries and financial institutions.

"Ukraine's recovery will be one of the most ambitious projects in the modern world. It requires an appropriate level of coordination, a well-planned strategy with a clear understanding of needs and priorities. Ukraine's plan can serve as a basis for this, including the necessary governance changes, economic reforms and key sectors for development. At the same time, the EUR 50 billion envisaged in the programme will not be sufficient to cover all the needs. Therefore, we call on our partners, including the G7 countries and international financial institutions, to join the implementation and further expansion of the Plan. Consolidation of international support will allow us to quickly rebuild the destroyed and ensure sustainable economic growth," said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.

As a reminder, the Ministry of Economy of Ukraine has finalised the concept note of the Ukraine Plan under the Ukraine Facility. The concept note contains key priorities and a programme of measures that will be expanded and detailed in the Ukraine Plan and will be transformed into quarterly performance criteria.

Approval of the Ukraine Plan concept note allows for the start of negotiations with a wide range of partner countries and financial institutions to meet Ukraine's recovery and development needs.

The Donor Coordination Platform will serve as a hub for planning, financing and monitoring the implementation of recovery and reconstruction projects, including the Ukraine Facility programme.