At a meeting on February 14, the Steering Committee of the Multi-agency Donor Coordination Platform for Ukraine noted the progress made in meeting Ukraine's financial needs, but stated the need for urgent action to finance further needs of the country.

"The parties welcomed the recent EU decision on the EUR 50 billion on 4-year Ukraine Facility instrument. Participants also noted the prompt provision of budgetary support by donors, in particular Japan and Norway. However, it was noted that additional support from other donors is necessary to meet the financing needs of Ukraine's budget for 2024 and prevent a financial crisis," reads a joint press release following the meeting.

According to it, the parties discussed the priority needs of Ukraine for 2024. The need to continue implementing reforms that will contribute to economic growth and attract foreign and domestic investment from the private sector was emphasized, as well as the need to further prioritize and structure these reforms within the framework of the Platform's work.

The Platform members noted that Ukraine's path to EU membership is an important engine of the Ukrainian reform agenda. They welcomed the progress already made in improving the business environment and the continued involvement of the private sector in the reconstruction of the country.

The Steering Committee also welcomed the new member countries of the Platform: the Republic of Korea, the Netherlands, Norway and Sweden, which pledged to jointly allocate more than $5.5 billion for the economic recovery of Ukraine, and also confirmed their readiness in the future to invite new members who meet certain criteria for supporting Ukraine.

The permanent members of the platform are the European Commission and the G7 countries: Italy, Canada, France, Germany, Japan, Ukraine, the United Kingdom and the United States. Representatives of Denmark, Estonia, Latvia, Lithuania, Poland and Spain were also invited to the meeting as observers.