09:48 27.01.2023

"Financial Ramstein" co-chaired by Ukraine-EU-U.S., has secretariat with offices in Kyiv and Brussels

2 min read
"Financial Ramstein" co-chaired by Ukraine-EU-U.S., has secretariat with offices in Kyiv and Brussels

The Steering Committee of the Donor Coordination Platform for Ukraine, the first meeting of which was held on Thursday, was co-chaired by Finance Minister of Ukraine Serhiy Marchenko, U.S. Deputy National Security Advisor for International Economics Mike Pyle, and European Commission Director General for Neighbourhood and Enlargement Gert Jan Koopman, the Ministry of Finance said.

According to IMF Alternate Executive Director Vladyslav Rashkovan, Marchenko will work in a group with Deputy Prime Minister – Minister for Communities and Territories Development and Infrastructure Oleksandr Kubrakov, and First Deputy Prime Minister - Minister of Economy Yulia Svyrydenko responsible for the development of the private sector during and after the war.

The Coordination Platform will have its own Secretariat, which will have two offices in Brussels and Kyiv, Rashkovan added.

"Representatives from G7 countries, the government of Ukraine, and the international financial institutions discussed how to better coordinate economic support for Ukraine’s immediate financing needs and future economic recovery and reconstruction efforts. They committed to work closely with Ukrainian authorities to define, prioritize, and sequence strategic economic needs, to further Ukraine’s reform ambitions, and to deliver economic assistance to stabilize Ukraine’s economy and underpin a sustainable and inclusive recovery," according to a report on the website of the White House.

It notes that this fulfills the commitment made by the leaders of the G7 in December last year.

According to Prime Minister of Ukraine Denys Shmyhal, who opened the meeting, the main tasks of the platform are to provide predictable, rhythmic budget support in 2023, planning and ensuring the beginning of Ukraine's recovery, restoration of damaged housing, critical and social infrastructure, as well as coordination of financial instruments to support the economy and the private sector (war risk insurance for potential investors, public-private partnership, assistance in financing projects to support small businesses that provide a large number of jobs).

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