27 Jan 2023 11:25

Providing budget support to Ukraine among priorities of 'financial Ramstein'

MOSCOW. Jan 27 (Interfax) - One of the main objectives of the Ukraine Donor Coordination Platform is to ensure predictable and rhythmic budget support in 2023, Ukrainian Prime Minister Denis Shmygal said.

"We are grateful to the European Union for providing 18 billion euros in macro-financial assistance. We are grateful to the United States for almost $10 billion of budget support. We expect that the gap between the budget deficit and the assistance that has already been committed will be covered by a new program of cooperation with the International Monetary Fund," Ukrainian media quoted Shmygal as saying in a statement circulated by the government's press service following the inaugural meeting of the Ukraine Multi-agency Donor Coordination Platform's Steering Committee.

The platform's second objective is to plan and ensure the start of Ukraine's recovery, he said.

"To this end, the government has identified four priority areas of funding. First, it is the restoration of the energy sector and compensation for lost generation capacity. We need equipment, assistance in decentralizing our energy sector, and the expansion of imports. And we need funds for that. Second, it is humanitarian mine clearance," the prime minister said.

The third goal is to rebuild damaged housing, and the fourth objective is the reconstruction of critical and social infrastructure, Shmygal said.

"Another key task of the platform, according to the prime minister, is to coordinate financial instruments to support the economy and the private sector (risk insurance for potential investors, public-private partnerships, assistance in financing projects to support small businesses that provide a large number of jobs)," according to the report.