Ukraine and Great Britain discussed budgetary needs and reforms
Kyiv • UNN
The leadership of the Ministry of Finance met with a delegation from Great Britain to discuss financial support, reforms and cooperation with the IMF. Great Britain has provided Ukraine with $3 billion in budget assistance.
The leadership of the Ministry of Finance and the delegation of Great Britain discussed Ukraine's budgetary needs, the state of implementation of reforms and Ukraine's cooperation with the International Monetary Fund within the framework of the Extended Fund Facility program. This is reported by the Ministry of Finance of Ukraine, reports UNN.
Details
A meeting was held in Kyiv between the leadership of the Ministry of Finance of Ukraine – First Deputy Minister of Finance Denys Uliutin, Deputy Minister of Finance Olga Zykova and Government Commissioner for Public Debt Management Yuriy Butsa – and the delegation of Great Britain.
The event was attended by the Second Permanent Under-Secretary of State for Commonwealth and Development Affairs of Great Britain, Nick Dyner, as well as representatives of the British Embassy in Ukraine.
Among the topics discussed were Ukraine's budgetary needs, the state of implementation of reforms and Ukraine's cooperation with the International Monetary Fund within the framework of the Extended Fund Facility program.
Great Britain's support remains unchanged since the beginning of the full-scale invasion. During this period, we attracted 3 billion US dollars of budget aid to the general fund of the state budget and almost 1 billion US dollars from the income from frozen assets of the Russian Federation to the special fund for military expenses. Great Britain continues to be a strategically important partner of Ukraine. I am grateful for our fruitful cooperation
It is noted that 3 billion US dollars were attracted in three tranches during 2022-2024 through the World Bank's DPL (Development Policy Loan) program. 1 billion US dollars from the income from frozen assets of the Russian Federation were received by the state budget in 2025 through the mechanism of the G7 countries Extraordinary Revenue Acceleration for Ukraine (ERA).
In 2025, 1 billion US dollars of financial assistance from Great Britain is foreseen within the DPL. Also, Ukraine will receive the next tranche under the ERA initiative in the near future
During the discussion of the implementation of reforms, the parties noted Ukraine's progress within the framework of cooperation with the IMF, namely the implementation of the Extended Fund Facility financial program. Ukraine has recently successfully completed its seventh record review. The Ministry of Finance's management emphasized that it continues to actively work with IMF experts on preparing for the next mission regarding the eighth review, which is scheduled to take place in June.
The state of reform of public investment management (PIM) in Ukraine and Great Britain's support in this direction were also considered. This is a comprehensive reform that includes a change in the approaches to the selection of projects in which the state and international partners will invest
In 2024, a pilot Single Project Pipeline (2025 Single Project Pipeline) has already been approved. Currently, the project portfolio consists of 769 projects worth more than 60 billion US dollars. 92 projects have already been selected by the Government of Ukraine for financing.
Great Britain provides technical support to the Government of Ukraine in the implementation of the PIM reform. During the meeting, the delegation noted that it is considering further steps to provide technical support to the Ukrainian Government.
We will remind
Head of the Office of the President of Ukraine Andriy Yermak discussed with the British Prime Minister's National Security Advisor Jonathan Powell key security issues and ways to promote a peaceful settlement of the situation in Ukraine.
