Ukraine Capacity Development Fund Launches Operations
IMF News, February 13, 2024
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- Ukraine Capacity Development Fund Launches Operations
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Bibliographic details
- Published: February 13, 2024
Overview and purpose
- The Ukraine Capacity Development Fund (UCDF) is a trust fund managed and administered by the IMF.
- The UCDF was formally launched at an inaugural Steering Committee meeting held in Kyiv.
- Purpose: to provide substantial resources for the scaling up of technical assistance and training in support of the Ukrainian government’s economic reform agenda.
Initial workplan and thematic focus
- The UCDF’s workplan, endorsed by the Steering Committee, focuses on core areas aligned with reforms under Ukraine’s Extended Fund Facility-supported program:
- 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
- country-tailored training and technical assistance on macroeconomic frameworks
Funding, contributors, and timeframe
- Initial workplan amount: US$27.5 million.
- Target fundraising goal: US$65 million.
- Current resources: US$16.5 million provided by development partners: The Netherlands, Slovakia, Latvia, Japan, and Lithuania.
- Coverage period for IMF capacity development operations: five-year period (2024-2028).
Meeting attendance and communications
- The inaugural Steering Committee meeting in Kyiv was attended by:
- Governor of the National Bank of Ukraine Andriy Pyshnyy
- Minister of Finance Sergii Marchenko
- representatives of a number of development partners
- staff of the IMF
- Press Release No. 24/44; media contact: PRESS OFFICER: Camila Perez — Phone: +1 202 623-7100 Email: MEDIA@IMF.org
*Source: Ukraine Capacity Development Fund Launches Operations (IMF press release, February 13, 2024).*</em>