On Tuesday, September 26, a meeting of the Multi-Agency Donor Coordination Platform for Ukraine, which was launched to involve a wide range of partner countries and international financial organizations in Ukraine’s recovery and development, was held. The Ministry of Economy reported this on its website.
During the meeting, the Ministry of Economy presented its concept note for the Ukraine Plan under the EU's Ukraine Facility program, key areas for future work, current needs, and funding priorities in order to ensure the country’s macroeconomic stability.
The Ukraine Facility program lays the groundwork for the country's recovery and development. However, the financing needs for Ukraine's post-war recovery far exceed the program's scope and are estimated by experts at €400 to €500 billion.
In view of this, one of the key tasks of the Ukraine Plan is to become the basis for further negotiations with partners on the expansion of the program and the development of a transparent recovery architecture. The work done to develop the Ukraine Plan yielded results, which will become the basis for further negotiations with a wider range of partner countries and international financial organizations.
"The €50 billion provided by the program is not enough to meet all the needs. This is why we call on all our partners, including the G7 countries and international financial institutions, to contribute to the implementation and further expansion of the Plan. Consolidation of international support will help us quickly restore what was destroyed and ensure sustainable growth of the economy," said Yuliia Svyrydenko, the Minister of Economy of Ukraine.
According to her, the restoration of Ukraine will become one of the largest projects in today’s world. It requires an appropriate level of coordination of efforts and a well-planned strategy with a clear understanding of needs and priorities. The Ukraine Plan can become the basis for this, including the necessary governmental changes, economic reforms, and key sectors for development.
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