The 12th Steering Committee Meeting of the Ukraine Donor Platform took place today, in online format. The meeting brought together senior representatives of Platform members, as well as International Financial Institutions. Participants reiterated the Platform’s unwavering support for Ukraine and its commitment to continue working to help Ukraine meet its immediate and long-term financing needs.
The meeting was co-chaired by European Commission Director-General for Neighbourhood and Enlargement Negotiations Gert Jan Koopman, Ukraine’s Minister of Finance, Sergii Marchenko, and the Coordinator of U.S. Assistance to Europe, Eurasia, and Central Asia, Maria Longi. On the Ukrainian side, Prime Minister Denys Shmyhal, and Deputy Prime Minister for Restoration of Ukraine and Minister for Communities, Territories and Infrastructure Development Oleksiy Kuleba, also participated.
Budget financing needs
Prime Minister Shmyhal thanked partners for their support and underlined the need for continued assistance in 2025. He emphasised Ukraine's commitment to reforms, notably in the context of its EU accession process.
Finance Minister Marchenko presented Ukraine's external budget financing needs for 2025, projected at USD 39.3 billion. Through joint efforts, Ukraine’s external financing gap for 2024 was closed and resources were secured to cover its projected needs for 2025.
The Steering Committee commended the fact that by the end of 2024, it has committed more than USD 183 billion in unified economic support (including budgetary, recovery and reconstruction support and excluding military and humanitarian assistance). In addition, the G7 agreement of 25 October 2024 to deliver approximately USD 50 billion in Extraordinary Revenue Acceleration (ERA) loans to Ukraine. As the EU contribution to these loans, the Commission is making available an exceptional MFA loan of EUR 18.1 billion, from which it made a first disbursement to Ukraine of EUR 3 billion on 10 January 2025. The rest of the funding will be disbursed over the course of 2025. This funding will enable Ukraine to support its current and future military, budget and reconstruction needs.
The Commission also updated the Steering Committee on payments under the Ukraine Plan, the first pillar of the Ukraine Facility. At the end of 2024, the Commission disbursed nearly EUR 4.1 billion to Ukraine, bringing the total disbursed to the Ukrainian budget under the Facility so far to EUR 16.1 billion. In 2025, disbursements of EUR 12.5 billion are planned, conditional on all relevant policy conditionalities being positively assessed.
Recovery and reconstruction of Ukraine
Deputy Prime Minister Kuleba presented Ukraine’s top recovery and reconstruction priorities for 2025: energy, heating, water supply and sanitation, housing and transport.
Delivering effective support for Ukraine’s recovery and reconstruction will remain a key priority for the Platform in 2025 and donors will further strengthen their engagement on this track.
The Commission emphasized that the Ukraine Investment Framework (UIF) aligns closely with the priorities outlined in Ukraine's strategic documents, including the Ukraine Plan and the Roadmap on Public Investment Management. The UIF is actively supporting Ukraine's key priorities, particularly in the municipal and energy sectors, with numerous projects already under implementation.
The Commission along with other partners noted the importance of war insurance for Ukraine’s recovery and reconstruction and for supporting international trade and investment. Work continues on facilitating a return of global reinsurance businesses to Ukraine.
Reforms driving sustainable growth and progress towards accession
The Steering Committee welcomed Ukraine’s strong and continuing progress on reforms, which are essential not only to help Ukraine proceed towards EU membership but also to improve the business climate, attract foreign direct investment and support economic development.
Improving public investment management for recovery and reconstruction
The Steering Committee reaffirmed its support for effective, transparent and well-coordinated public investment management. In this context Ukraine updated on the public finance and public investment management (PIM) reforms, including the prioritisation of public investment projects within the pilot Single Project Pipeline for 2025. The Steering Committee welcomed the Government of Ukraine’s decree establishing the Project Preparation Unit and welcomed the progress towards launching two project preparation facilities: the Ukraine PPF, to be administered by the Government of Ukraine with support from the World Bank, and Ukraine FIRST, to be administered by the EIB and EBRD and supported by the Commission with €20 million.
Stakeholder engagement
The Steering Committee took note of the Business Advisory Council’s latest input and commended its members’ efforts to identify concrete steps to boost private sector investment in Ukraine. It also committed to actively pursue the Platform’s regular exchanges with Ukrainian civil society.
Background
The Ukraine Donor Platform (initially called the Multi-Agency Donor Coordination Platform for Ukraine) was launched on 26 January 2023 to coordinate efforts to address Ukraine's financing needs, both in the short to medium-term.
The Platform’s Steering Committee brings together high-level officials from Ukraine, the EU, and the G7 countries as permanent members. Annual temporary members are the Republic of Korea, The Netherlands, Norway, Sweden and Denmark. Observer states are Belgium, Estonia, Finland, Latvia, Lithuania, Luxembourg, Poland, Spain, and Switzerland. International Financial Institutions and organisations, namely the European Investment Bank, the European Bank for Reconstruction and Development, the International Monetary Fund, the World Bank, the Council of Europe Development Bank, the International Finance Corporation and the Organisation for Economic Co-operation and Development also participate.
The next Steering Committee meeting is expected to take place in April 2025.
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Details
- Publication date
- 14 January 2025
- Author
- Directorate-General for Neighbourhood and Enlargement Negotiations