International Monetary Fund (IMF) Managing Director Kristalina Georgieva has announced the creation of the Ukraine Capacity Development Fund (UCDF) to provide technical assistance with a budget of $65 million over five years, and the Netherlands, Japan, Lithuania and Slovakia have become its first contributors for a total of $14.5 million.
“We are looking for $65 million over five years to expand (Ukraine’s) capacity development in the priority sectors supported by the IMF program. I am pleased to announce that donors have already pledged contributions of approximately $14.5 million. I am confident in your support for this initiative,” Georgieva said after a ministerial roundtable on Ukraine, which took place as part of the annual meetings of the IMF and the World Bank, which ended on Sunday in Marrakech.
It is specified that the Netherlands’ contribution to the fund amounted to $7 million.
The official event to launch the fund on the sidelines of the IMF and WB meetings was attended by IMF First Deputy Managing Director Gita Gopinath, Finance Minister Sergii Marchenko, NBU Governor Andriy Pyshnyi and his deputy Sergii Nikolaychuk, as well as representatives of the four countries.
“These contributions will support the efforts of the Ukrainian authorities to stabilize macroeconomic conditions and restore the post-war economy while implementing comprehensive reforms that are consistent with Ukraine’s EU accession goals,” the IMF said in a statement announcing the creation of the UCDF.
Pyshny thanked the IMF for launching the new fund. He emphasized the importance of international financial assistance for Ukraine, reforming the Ukrainian economy, and strengthening the institutional capacity of the authorities.
Capacity Development Fund, JAPAN, LITHUANIA, NETHERLANDS, SLOVAKIA
