According to Prime Minister Denis Shmygal, Ukraine needs sufficient, fast and predictable external financing starting from 2024.
The letter sent by the Government of Ukraine to the participants of the Multi-Donor Coordination Platform is part of systematic work with partners. Ukrinform reports this, citing a statement made by a high-level source familiar with the situation.
Commenting on the information in the American agency Bloomberg about Prime Minister Denis Shmygal’s call for urgent financing of $ 37.3 billion to Ukraine in 2024, the interlocutor of the agency noted that this is part of the systematic work with partners.
“After budget support was determined as the main direction of the platform’s 2024 work at the platform meeting held on December 19, a letter was sent from the Ukrainian government to the participants of the Multi-Donor Coordination Platform. This is part of systematic work with partners. ” the message states.
Prime Minister Denis Shmyhal noted in a letter reviewed by Bloomberg that funding should be directed to the needs of Ukraine’s main budget.
“To maintain macroeconomic stability, it is imperative that we receive sufficient, rapid and predictable external financing from January 2024,” Shmygal’s letter says.
Shmygal said:
The Multilateral Donor Coordination Platform for Ukraine coordinates support for Ukraine’s immediate needs, future economic recovery and recovery from a variety of sources and established financing instruments.
“>MDCPThis plan, created by G7 leaders in December 2022 to coordinate international financing, should focus on Ukraine’s immediate budget needs rather than the long-term task of coordinating resources for post-war reconstruction and economic recovery.
The head of government suggested donors hold a meeting in January ahead of the meeting scheduled for next month, Bloomberg wrote.
Shmygal also called on donors to initiate coordination to direct frozen Russian assets towards the restoration of Ukraine. In his letter, he wrote that the Kremlin “must pay the price for war and destruction, and this will be the main source of recovery in the coming years.”
“We will make every effort to eliminate the financing gap, but your timely support is needed now more than ever,” the Prime Minister emphasized.
What is said in Shmygal’s letter
The Ukrainian prime minister called on international donors to provide $37.3 billion to the state in 2024. In a letter addressed to the Multilateral Donor Coordination Group (MDCP), Shmygal said the fund was necessary to maintain Ukraine’s macroeconomic stability and meet basic budget needs.
He also noted that Minister of Infrastructure Alexander Kubrakov was replaced by Minister of Finance Sergei Marchenko as MDCP co-chairman.
Shmyhal called on donors to hold a meeting in January ahead of the meeting planned for next month.
“We cannot wait until March to meet our social needs,” the Prime Minister said.
Shmygal also called on donors to begin coordinating actions to direct frozen Russian assets towards the restoration of Ukraine. His letter stated that the Kremlin “must pay the price for war and destruction, and this will be the main source of recovery in the coming years.”
As a reminder, the EU’s €50 billion ($55.6 billion) package for Ukraine was blocked by Hungarian Prime Minister Viktor Orban this month, postponing discussion until early next year.
Source: Focus
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