PM Shmyhal announces launch of financial ‘Ramstein format’

PM Shmyhal announces launch of financial ‘Ramstein format’

The G7 countries have created a platform to coordinate the financing of reconstruction works and reforms in Ukraine. The first meeting of the Secretariat is scheduled for this week.

"It is important that financial assistance projects are clearly coordinated. Therefore, the G7 countries created a multi-donor coordination platform, the so-called financial ‘Ramstein format’. It will deal with three main areas: short-term and long-term support for Ukraine, international financing and coordination of reforms, and development of the private sector," Prime Minister of Ukraine Denys Shmyhal said at the Cabinet’s meeting on January 24.

Shmyhal noted that the first meeting of the platform's executive secretariat will be held this week. The EU and G7 countries, IMF, EIB, EBRD, OECD, and other international financial organizations will cooperate in the financial "Ramstein format".

"Both formats – energy and financial ‘Ramstein’ – concern ensuring additional stability of our state and the fulfillment of two main tasks. The first is to finance all critical expenditures, especially those relating to restoration projects. The second task is to successfully go through the heating season and preserve the integrity of our energy system," the Prime Minister added.

As reported, this year's minimum needs of Ukraine in funds are $38 billion to cover the budget deficit and $17 billion for priority recovery. Currently, the infrastructural restoration needs have already exceeded $700 billion.


While citing and using any materials on the Internet, links to the website not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website and the website of a foreign media outlet. Materials marked as "Advertisement" or with a disclaimer reading "The material has been posted in accordance with Part 3 of Article 9 of the Law of Ukraine "On Advertising" No. 270/96-VR of July 3, 1996 and the Law of Ukraine "On the Media" No. 2849-Х of March 31, 2023 and on the basis of an agreement/invoice.

© 2015-2024 Ukrinform. All rights reserved.

Extended searchHide extended search
By period: