Multi-agency donor platform for Ukraine should be focused on energy sector's reconstruction - PM Shmygal

MOSCOW. June 11 (Interfax) - Predictable and consistent budgetary support and the energy sector's reconstruction are the main priorities of the Multi-agency Donor Coordination Platform for Ukraine, Ukrainian media reported with reference to the government website quoting Prime Minister Denis Shmygal as saying at the platform's tenth meeting.

Considering that over 9 GW of power generating facilities in Ukraine have been disabled, Shmygal said the Ukrainian government has set several key objectives to handle this challenge and urged partners to help Ukraine attain them.

The objectives include rapidly rebuilding and repairing damaged power plants and equipment, Shmygal said. While over 500 million euros has been accumulated for this purpose in the Energy Support Fund, Ukraine needs much more funding, he said.

Another key objectives include energy system decentralization, which implies installing multiple small generation facilities across the country, and financing energy efficiency measures, which provides plenty of opportunities for joint initiatives and projects, he said.

Despite the crisis, Ukraine is continuing transformation and reforms, Shmygal said. "Last week, we presented the Reform Matrix, a huge plan of changes that includes all the official recommendations and conditionalities from our partners from the EU, the IMF and the World Bank. In total, there are more than 200 reforms for 2024."

Ukraine relies on assistance from its partners to eliminate macroeconomic risks through long-term external financing programs, Shmygal said. It also needs support for its rapid recovery, including access to foreign markets and improved logistics, while foreign investment and technology transfer from its partners are critical for rapid growth, he said.