OECD To Cover Ukraine's Contributions For 2024, Partnership Fees From Its Own Budget

(MENAFN- UkrinForm) In sign of support, the Organisation for Economic Co-operation and Development (OECD) will cover from its own budget Ukraine's contributions for 2024 and partnership fees to a number of its bodies, as well as Ukraine's arrears for 2022 and previous years.

The relevant statement was made by the Ukrainian Economy Ministry , an Ukrinform correspondent reports.

“About EUR 285,000 will be allocated in total. In particular, this money will be used to pay Ukraine's contributions to the International Transport Forum, the Steel Committee, the OECD Seed Schemes, and the Global Forum on Transparency and Exchange of Information for Tax Purposes, as well as its partnership fees for the Competition Committee, Public Governance Committee, SMEs and Entrepreneurship Committee, the Inclusive Framework on Base Erosion and Profit Shifting, the Investment Committee in enlarged session, and the Working Group on Bribery,” the report states.

According to Ukrainian Deputy Prime Minister, Economy Minister Yuliia Svyrydenko, Ukraine highly appreciates the support provided by the OECD.

In her words, with the OECD, Ukraine is“focused on investment incentives, investment facilitation and deregulation, expanding support for the Export Credit Agency in Ukraine, and their coverage of 100% of investment risks”, as well as reclassifying the country's risk group from Group 7 back to Group 6 to make risk insurance more affordable.

A reminder that, according to OECD Secretary-General Mathias Cormann, Ukraine's economic prospects appear to be optimistic even amid the war. In June 2024, during the Ukraine Recovery Conference in Berlin, he noted that the OECD was implementing a four-year program in Ukraine, supporting an ambitious agenda of structural reforms, and focusing on helping to optimize opportunities for economic recovery.

Photo: shutterstock

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