The government outlined the main tasks of the donor coordination platform for 2024
Kyiv • UNN
The main objectives of the donor coordination platform for 2024 are to support Ukraine's financial stability through direct budgetary assistance and to implement the principle that Russia should pay for its losses by using frozen Russian assets.
One of the main tasks of the Multi-Donor Coordination Platform for 2024 is to support Ukraine's financial stability through direct budgetary assistance. External financing needs for this year amount to $37 billion. This was announced by Prime Minister Denys Shmyhal during a meeting of the Platform's steering committee on February 14, UNN reports.
Our external financing needs for this year amount to USD 37 billion. We are counting on budget support from the EU under the Ukraine Facility program and from the United States. We also expect the third successful review of the IMF program for Ukraine and the Fund's support this year
Shmyhal expressed hope that Ukraine's partners and the members of the Platform will help close the financial deficit this year.
According to him, the second goal of the Platform for 2024 is to implement the principle "Russia must pay.
"It is necessary to intensify efforts and synchronize actions to enable the use of frozen Russian assets to restore Ukraine and strengthen its economic development," the Prime Minister emphasized.
He said that on February 15, together with the World Bank, Ukraine will present an updated assessment of damage and recovery needs (RDNA3). According to him, the figure for the recovery needs of our country has increased by more than $75 billion over the year.
This is an extremely large amount and without confiscation of Russian assets it will be extremely difficult to cover these needs in the coming years
Task number three for this year is to continue expanding the Platform by attracting new members. The Prime Minister noted that coordination should also be improved by strengthening the role of the Platform's Secretariat in Kyiv. He emphasized that the principle of "united in protection - united in recovery" should be reflected in the composition of the Platform.
"The fourth task is the economic development of Ukraine and attracting investments from the private sector. We have to create a Business Advisory Council and ensure conditions for its effective work," Shmyhal said.
For its part, the Government of Ukraine presented a reform matrix developed jointly with the World Bank, which provides a detailed overview of the conditions and recommendations of the partners in key sectors.
"We intend to use this matrix as a tool to manage the reform process. We have fulfilled and will continue to fulfill our obligations. Ukraine is changing right now. This is the basis for improving the business climate and, accordingly, sustainable economic growth," the Prime Minister emphasized.
Shmyhal thanked all the countries that have joined the Multi-Donor Coordination Platform. In particular, he welcomed the new members: Norway, the Netherlands, Sweden and South Korea.
According to the Prime Minister, in 2023, the government managed to mobilize $42.5 billion in external financial assistance. Together with other comprehensive measures, this helped to maintain Ukraine's macroeconomic and financial stability.
