Marchenko, Atlantic Council representatives discuss Ukraine’s recovery

Marchenko, Atlantic Council representatives discuss Ukraine’s recovery

Ukrainian Minister of Finance Sergii Marchenko and representatives of the Atlantic Council think tank at a meeting on May 31 discussed the support of international partners and the need for the rapid recovery of Ukraine this year.

That’s according to the press service of the Ministry of Finance, Ukrinform reports.

“One of the main tasks of the Ministry of Finance of Ukraine is to consolidate the necessary resources for the priority recovery of Ukraine. First of all, the timely raising of funds for urgent reconstruction is of crucial importance for creating proper living conditions for people, and will also contribute to the economic growth of Ukraine,” said Marchenko.

The minister stressed the need to attract financing from international partners for the needs of Ukraine's recovery. Based on the results of the Second Ukraine Rapid Damage and Needs Assessment  (RDNA2) report, Marchenko noted that this year Ukraine needs USD 14.1 billion for priority recovery.

“The estimates of the RDNA2 report are verified and agreed with partners - this allows us to consolidate additional funds for reconstruction, as international donors clearly understand the country's needs. So, in 2023 we need USD 14.1 billion, of which USD 3.3 billion are already provided for in the State Budget of Ukraine,” said Marchenko.

According to the minister, while working with international donors to attract funds for priority reconstruction in 2023, attention is focused exclusively on 5 identified priorities, namely: restoration of the energy sector, reconstruction of damaged and destroyed housing, humanitarian demining, restoration of critical and social infrastructure, as well as private sector support, in particular, small and medium-sized businesses.

In this context, Marchenko spoke about the activities of the Multi-Agency Donor Coordination Platform for Ukraine, which is focused on the consolidation of funds from international partners.

“Next meeting of the Multi-Agency Donor Coordination Platform for Ukraine will be held in London. Currently, the Government of Ukraine is actively working on the development of recovery projects that will be presented there. We expect that military risk insurance will also be one of the key topics for discussion,” the minister said.

As reported, on May 26, 2023, the third meeting of the Steering Committee of the Multi-Agency Donor Coordination Platform for Ukraine was held. The initiative brings together representatives of the authorities of Ukraine, the EU, the G7 countries, as well as partners from international financial institutions, including the European Investment Bank, the European Bank for Reconstruction and Development, the International Monetary Fund, and the World Bank.

Photo: Ministry of Finance  

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