6 Apr 2023 12:26

Ukraine hopes Donor Coordination Platform will help find $10.8 bln for rapid recovery

MOSCOW. April 6 (Interfax) - Ukraine needs $14.1 billion in 2023 to implement rapid recovery measures in line with the recent international Rapid Damage and Needs Assessment (RDNA2), $3.3 billion of the required amount has already been allocated from the state budget, and Kiev counts on assistance from the Multi-Agency Donor Coordination Platform to raise the remaining funds, Ukrainian Finance Minister Sergei Marchenko said at the second meeting of the platform's Steering Committee on Wednesday.

"The government of Ukraine expects the platform to ensure close coordination between international donors and international financial organizations, as well as coordinated, transparent and accountable provision of support for the reconstruction of the country," Ukrainian media quoted Marchenko as saying in a statement circulated by the Finance Ministry.

To finance the remaining $10.8 billion, the Ukrainian government is committed to constructive and fruitful cooperation with donors and the private sector, he said.

According to the RDNA2 report of the government of Ukraine, the World Bank, the European Commission and the United Nations, the rapid recovery process will focus on five key areas, such as recovery of energy infrastructure, humanitarian mine clearance, restoration of damaged housing, restoration of critical and social infrastructure, and support for the private sector, the minister said.

The platform co-chairs welcomed the Ukrainian government's commitments with regard to budgetary stability and to defining comprehensive, pan-government priorities for strategic rapid recovery needs in 2023. They also assured Ukraine of their support for the country's recovery and its integration into the European Union.

The Multi-Agency Donor Coordination Platform for Ukraine, also referred to informally as Financial Ramstein, was launched on January 26 of this year, when the first meeting of its Steering Committee took place.

The platform's co-chairs are Ukrainian Finance Minister Marchenko, U.S. Deputy National Security Advisor for International Economics Michael Pyle and the European Commission's Director-General for Neighborhood and Enlargement Negotiations Gert Jan Koopman.

Representatives of the G7 countries, the European Commission and international financial organizations were also present at the platform's April 5 meeting.