14 February 2024

IMF's Ukraine Capacity Development Fund

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PRESS RELEASE NO. 24/44

Ukraine Capacity Development Fund Launches Operations

February 13, 2024

Kyiv, Ukraine : The Ukraine Capacity Development Fund (UCDF), a trust fund managed and administered by the IMF, has been formally launched today at an inaugural Steering Committee meeting held in Kyiv. The UCDF will provide substantial resources for the scaling up of technical assistance and training in support of the Ukrainian government’s ambitious economic reform agenda.

The UCDF’s workplan, endorsed today by the Steering Committee, focuses on core areas of the authorities’ economic and financial reform agenda, well aligned with reforms under Ukraine’s Extended Fund Facility-supported program.

These include:

fiscal reforms (including revenue mobilization,
public financial management, and expenditure policy);
monetary policy;
financial sector policies;
strengthening financial integrity and tackling corruption;
strengthening data compilation and dissemination; as well as
country-tailored training and
technical assistance on macroeconomic frameworks.

This initial workplan amounts to US$27.5 million, with expectations that the target of US$65 million will be reached.

Current resources in the amount of US$16.5 million are being provided by the following development partners:

The Netherlands,
Slovakia,
Latvia,
Japan, and
Lithuania.

These resources will help cover IMF capacity development operations over a five-year period (2024-2028).

The meeting was attended by the Governor of the National Bank of Ukraine Andriy Pyshnyy, Minister of Finance Sergii Marchenko, representatives of a number of development partners, as well as staff of the IMF.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: CAMILA PEREZ

PHONE: +1 202 623-7100EMAIL: MEDIA@IMF.ORG

@IMFSpokesperson

Odessa Journal

12 hours ago

The Ukraine Potential Development Fund, under the coordination of the IMF, has commenced operations

The inaugural meeting of the Steering Committee of the Ukraine Capacity Development Fund (UCDF) took place in Kyiv. This fund will finance expanded technical assistance for reform efforts by the Ukrainian government under the coordination of the International Monetary Fund.

The National Bank of Ukraine press service reported this development.

X.com

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IMF Capacity Development on X: "The Ukraine Capacity Development Fund, a trust fund managed and administered by the IMF, has been formally launched

"The start of operations of the IMF's Ukraine Capacity Development Fund in Kyiv today marks a key milestone in the multilateral efforts to support the ambitious economic reform program of the Ukrainian government," said Kristalina Georgieva, Managing Director of the IMF.

Participants of the meeting approved the initial work plan of the UCDF along with its financing of $27.5 million, covering IMF technical assistance and partners' support for 2024-2028. The current resources of $16.5 million are provided by donor countries such as the Netherlands, Slovakia, Latvia, Japan, and Lithuania. Meanwhile, the IMF is working to increase the funding budget to $65 million.
According to the Governor of the NBU, Andriy Pysaruk, the approved UCDF work plan focuses on key economic and financial reforms, including financial sector regulation and monetary policy.

"The UCDF has started its work and is ready to provide assistance to Ukrainian authorities within the framework of the IMF's capacity-building activities," said Gavin Gray, head of the IMF mission in Ukraine, during his speech.

The meeting on February 13 was attended by the Governor of the NBU, Andriy Pysaruk, and his deputies, Finance Minister Serhiy Marchenko, the IMF team led by Uma Ramakrishnan, Deputy Director of the IMF's European Department, and Gavin Gray, head of the IMF mission in Ukraine, as well as representatives of Ukrainian government agencies and international development partners.

Eurasia Review

Ukraine Capacity Development Fund Launches Operations – Eurasia Review

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Odessa Journal

https://odessa-journal.com › the-ukraine-potential-de...

13 hours ago — This fund will finance expanded technical assistance for reform efforts by the Ukrainian government under the coordination of the International ...

Ukraine Capacity Development Fund Launches Operations

International Monetary Fund

https://www.imf.org › News › Articles › 2024/02/12

1 day ago — The Ukraine Capacity Development Fund (UCDF), a trust fund managed and administered by the IMF, has been formally launched today at an ...

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