The meeting brought together senior representatives of Platform members, observers and international financial institutions.
The UK reiterated our absolute commitment to securing a just and lasting peace in Ukraine and is engaging with key allies in support of this effort. The UK reaffirmed our unwavering support for Ukraine and our determination to contribute to Ukraine’s long-term economic stability, resilience, and recovery.
Budget financing needs
Finance Minister Marchenko confirmed Ukraine’s external financing needs for 2025, projected at USD 39.3 billion. Through joint efforts, including the financing being mobilised by the Extraordinary Revenue Acceleration (ERA) loan initiative, resources have been secured to cover its external budget financing needs for 2025.
Since the start of the full-scale invasion of Ukraine, the UK’s total military, economic and humanitarian support for Ukraine amounts to £15 billion: £10 billion in military support (including our £2.26 billion ERA Loan contribution), and £5 billion in non-military support. The UK’s non-military support comprises £4.1 billion in fiscal support through World Bank loan guarantees to bolster Ukraine’s economic stability and support vital public services, and £977million in bilateral support, including £477million in humanitarian assistance to Ukraine and the region since the start of the full-scale invasion.
Recovery and reconstruction of Ukraine
Ukraine presented its top recovery and reconstruction priorities for 2025, based on the fourth Rapid Damage and Needs Assessment and the Single Project Pipeline established by the Government of Ukraine: energy, heating, water supply and sanitation, housing and transport. Delivering effective support for Ukraine’s recovery and reconstruction is a key priority for the Platform and donors committed to further strengthen their engagement on this track. The UK emphasised the importance of long-term planning for recovery and reconstruction, including efforts to support social recovery which will be vital for underpinning economic recovery.
Ukraine has withstood the winter season, surmounting the impact of Russia’s attacks on energy infrastructure, with the strong support of the donor community. The UK will continue to support Ukraine in realising its vision of a cleaner, more modern, decentralised energy system.
The UK and other partners noted the importance of 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 EU accession
Many participants welcomed Ukraine’s strong and continuing progress on reforms, including on the implementation of the Ukraine Plan, which are essential to improve the business climate, attract foreign direct investment and support economic development, and support Ukraine’s Euro-Atlantic trajectory.
Enhancing public investment management for recovery and reconstruction
Ukraine updated on its progress towards an effective, transparent and well-coordinated public investment management system, which is crucial for its successful recovery and reconstruction. An integral part will be the two project preparation facilities under development – 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 European Investment Bank and the European Bank for Reconstruction and Development. The facilities are expected to be operational by the 2025 Ukraine Recovery Conference (URC 2025), which will take place in Rome on 10-11 July, hosted by the Governments of Italy and Ukraine.
Stakeholder engagement
The Steering Committee discussed 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 held a productive exchange of views with representatives of Ukrainian civil society, with a focus on human capital. This discussion also served as a preparatory event for the human dimension of URC 2025.
