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Sergii Marchenko met with Minister of Finance of the Netherlands Sigrid Kaag

Today, on April 2, Minister of Finance of Ukraine Sergii Marchenko met with First Deputy Prime Minister and Minister of Finance of the Netherlands Sigrid Kaag.

The parties discussed the state of Ukraine's financial system, cooperation with the International Monetary Fund, post-war recovery and reconstruction, and the strengthening of sanctions against russia.

"I am grateful to the Government and people of the Netherlands for their significant financial, military and humanitarian support. It is very important for us in our struggle to defeat the aggressor," said Sergii Marchenko.

The Minister of Finance of Ukraine outlined the state of the economy after more than a year of full-scale war, emphasizing that the country has adapted to the new conditions and maintained stability despite all the challenges: "The Government of Ukraine continues to function fully, providing all basic and vital services to the population." 

Sergii Marchenko noted that international partners have confirmed their intention to support the country in financing the current year's State Budget deficit in full. In particular, the recent decision of the IMF to launch a new four-year Extended Fund Facility (EFF) Program for Ukraine in the amount of USD 15.6 billion was an important milestone.

Ukraine also needs significant resources to recover the country. According to the RDNA2 report by the Government of Ukraine, the World Bank Group, the European Commission, and the United Nations, Ukraine's reconstruction and recovery needs are estimated at approximately USD 411 billion. 

At the same time, in 2023, Ukraine needs USD 14 billion to implement rapid recovery, including the restoration of energy, housing, critical and social infrastructure, basic services for the most vulnerable, humanitarian demining and private sector development.

The Minister of Finance of Ukraine noted that he counts on the support of international partners in the realization of a rapid and large-scale recovery. The new Multi-Agency Donor Coordination Platform for Ukraine involving the G7 countries and the European Commission should become a reliable tool for mobilizing and coordinating the necessary funding.