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<\/figure>\n<\/figure>\n\n\n\nIn his opening remarks, DiXi Group Research Director Roman Nitsovych stressed that this monitoring traditionally focuses not only on tracking the progress of reforms, but also on their essence.<\/p>\n\n\n\n
“It is very important to talk not only about the implementation of the indicators and beacons, but also about the goal they pursue.<\/em>\u00a0And the goal here is twofold: the first is, of course, to achieve the implementation of those reforms that are vital for Ukraine.<\/em>\u00a0And the second is to maintain financial stability, especially in the current environment,”<\/em>\u00a0Roman Nitsovych said.<\/p>\n\n\n\n Many shifts in financial support for Ukraine from its partners took place in October.\u00a0First of all, a decision was made to provide financing as part of the Group of Seven’s $50 billion package, which will be secured by Russian assets.<\/p>\n\n\n\n “Our consortium has been promoting this step since 2022, so we are very happy that this decision has finally been made, and Russian assets will be used to support Ukraine.<\/em>\u00a0However, these funds will be used not only for budgetary support but also for military financing.<\/em>\u00a0Therefore, it is too early to say whether next year’s funds will be enough to cover the budgetary needs,\u2018<\/em>\u00a0Oleksandra Betliy, Senior Research Fellow at the Institute for Economic Strategies and Policy Consulting, commented on the partners\u2019 decision.<\/p>\n\n\n\n Also, in October, the IMF Executive Board approved the 5th review of the IMF programme, which, according to the expert, is explained by two factors: the need for funding for our country, which is an incentive to fulfil obligations in a timely manner, and the flexibility of the IMF.\u00a0In addition, the macroeconomic forecast has been revised and is now based on the assumption that the hostilities will continue throughout 2025.<\/p>\n\n\n\n The new commitments to the IMF that emerged after the latest programme review include the correction of the negative steps taken earlier in the energy sector.\u00a0Thus, the full supervisory board of Ukrenergo is to be appointed by the end of this year.\u00a0Maksym Samoiliuk, economist at the Centre for Economic Strategy, commented in detail on Ukraine’s progress in the IMF agreement.<\/p>\n\n\n\n “The IMF has been very flexible over the past two years compared to previous support programmes for Ukraine.However, this should not be abused\u00a0<\/em>,\u2019 said Samoiliuk.<\/p>\n\n\n\n The third quarter of this year contained certain risks for the implementation of Ukraine’s agreements with the EU, as Ukraine failed to meet one of the indicators of the Ukraine Plan on time.\u00a0Vitaliy Nabok, Policy and Data Analyst at the Institute for Analysis and Advocacy, spoke about whether Ukraine will receive the next tranche from the European Union.<\/p>\n\n\n\n “This is the first time that we have failed to fulfil one of the indicators of the Ukraine Plan on time.<\/em>\u00a0We are talking about the need for amendments to the Criminal Code and the Criminal Procedure Code to come into force.<\/em>\u00a0Despite the late implementation of the indicator, the EU said that it would once again meet us halfway and pay the full amount for the third quarter indicators if Law No. 12039 comes into force by the end of October.<\/em>\u00a0In fact, it did happen: in the afternoon (31 October), the law was signed by the President of Ukraine,”<\/em>\u00a0said Vitaliy Nabok.<\/p>\n\n\n\n According to the experts, the risk of losing the entire tranche, rather than the cost of only one indicator, is due to the lack of a mechanism for allocating partial tranches approved by the European side.\u00a0It is the existence of such a mechanism that can mitigate the risks of not receiving the full amount of funding due to delays in certain obligations.\u00a0At the same time, it may somewhat reduce the political will to implement complex indicators and benchmarks.<\/p>\n\n\n\n The special topic discussed the prerequisites and opportunities for attracting green finance to rebuild Ukraine’s economy.\u00a0DiXi Group Senior Green Transition Expert Dmytro Sych spoke about the activities of the Green Transition Office and the potential for attracting green finance for post-war reconstruction.\u00a0In particular, the expert presented the results of an analysis of investment projects and reconstruction needs: these are about 400 green projects that require a total of USD 140 billion.<\/p>\n\n\n\n He also explained where Ukraine can get such funds.\u00a0Ukraine Facility Pillar 2 provides for 20% of funding to be allocated to projects that will have a positive impact on decarbonisation and environmental protection.\u00a0IFIs declare ambitious goals to increase green finance in the short term.\u00a0The emissions trading system, in addition to stimulating additional investment in decarbonisation, could become one of the sources of financing for green projects.\u00a0After all, the revenues will be directed to the Decarbonisation and Energy Efficiency Transformation Fund.<\/p>\n\n\n\n It is also worth considering \u2018non-classical\u2019 sources and mechanisms of green financing.\u00a0The Government of Ukraine is working to attract funding under Article 6 of the Paris Agreement, which provides for cooperation between countries to implement Nationally Determined Contributions.\u00a0In addition, given the significant amount of external debt, climate swaps #debtfornature #debtforclimate may become a source of green financing, which provide for the mitigation of Ukraine’s debt burden as a result of its investments in decarbonisation and environmental protection measures.<\/p>\n\n\n\n Summing up the event, DiXi Group Development Director and Head of the Green Transition Office Andriy Kitura stressed the importance of monitoring Ukraine’s progress in implementing agreements with partners.<\/p>\n\n\n\n “It is very important that we have such a platform as the Consortium, where we can carry out independent external monitoring of Ukraine’s progress in fulfilling its obligations to international partners.<\/em>\u00a0Our joint activities are designed to ensure that we achieve better regulation, better policies, better governance, which will allow us to find more resources to win the war and rebuild Ukraine afterwards.<\/em>\u00a0Part of these resources and solutions will be green sustainable finance, one of the important topics we have touched upon today\u00a0<\/em>,\u2019 he summed up.<\/p>\n\n\n\n More details in the material by the\u00a0<\/strong>link<\/u><\/strong><\/a>.<\/strong><\/p>\n\n\n\n![\"\"](\"https:\/\/rrr4u.org\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/465400687_952505670248113_1545065737469578777_n-e1730807406826-1024x590.jpg\")
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