On 10 June, the 10th meeting of the Steering Committee of the Multi-Agency Donor Coordination Platform for Ukraine, established to coordinate international assistance and meet the immediate needs and long-term recovery of Ukraine, took place.

Together with the partners, they discussed ensuring macroeconomic stability and budget support in 2024-25, meeting the needs of critical reconstruction, rapid recovery and investment priorities, and implementing reforms on the path to the EU.

Opening the meeting, Prime Minister Denys Shmyhal stressed that predictable and consistent budget support for this year and next year remained a crucial task for the joint work. "This is an important basis for our defence capability, rapid recovery and economic growth. We also urge our partners to continue their efforts and work on the confiscation of russian assets. This should become an equally important source for building our resilience and financial recovery of Ukraine," the Prime Minister said.

Denys Shmyhal also noted that the energy sector remained one of the most serious challenges for recovery today. We need a sufficient number of air defence systems. We need to quickly rebuild and repair damaged power plants and equipment. We need decentralisation of the energy system and funding for energy efficiency measures. "This opens up a number of opportunities for joint initiatives, projects and modernisation," the Prime Minister stressed.

The Co-Chair of the Platform from Ukraine, Minister of Finance of Ukraine Sergii Marchenko, spoke about the state and financing needs for 2024-25 in the context of a full-scale war.

"In 2024, the need for external financing reaches USD 38 billion. Thanks to joint efforts with partners, in particular within the framework of the Platform, we have received assurances of raising the necessary amount of funds. It is essential that support is rhythmic and predictable, thus contributing to the stability and balance of the state budget. Another priority is to secure sources to finance the budget needs for 2025. The Ministry of Finance is actively negotiating with our partners to receive concrete assurances", Minister of Finance of Ukraine Sergii Marchenko said.

Background Information

The Multi-Agency Donor Coordination Platform was established to coordinate support for Ukraine's urgent financial needs, reconstruction and future economic recovery from various sources and designated financing instruments. The Steering Committee of the Platform consists of senior officials from Ukraine, the G7 countries and the European Union. International financial institutions and organisations also participate in the Steering Committee meetings as active participants.

The Steering Committee is co-chaired by senior officials from the United States, the European Commission and Ukraine - Daleep Singh, Deputy National Security Advisor for International Economics from the United States side, Director-General of the European Commission's Directorate-General for Neighbourhood Policy and Enlargement Negotiations Gert Jan Koopman from the EU, Minister of Finance Sergii Marchenko from Ukraine.