Pavlo Kostyuk: Ukraine is facing a new reality that requires an adaptive approach to recovery
Representatives of the Ukraine Reconstruction Fund joined the discussion of Ukraine’s recovery, which took place at the Invisso Conference in London. The event annually brings together business representatives, investors, financial experts and politicians to discuss financial challenges and economic prospects.
This time, the discussion focused on the financial and economic situation in Ukraine, the role of the private sector, and cooperation with development banks and international financial organizations in the country’s recovery.
Experts estimate that Ukraine needs USD 15.3 billion for a rapid recovery in 2024. Of this amount, about 5.5 billion has already been financed from the state budget and through donor support. Thus, the country needs another $9.5 billion to finance the priority recovery needs.
“It is clear that in such a difficult situation, Ukraine counts on financial support from both partner countries and private investors,” said Pavlo Kostyuk, founder of the URF.
He emphasized that in order to use these funds effectively, it is important to immediately create a favorable investment environment, ensure that investment projects are insured against military and political risks, and introduce real, not declarative, mechanisms of state support.
Priority investments are needed in the defense industry, energy, restoration of damaged housing, agriculture, natural resources, digital technologies, and the IT sector. Private sector participation in these processes is also important, as it will contribute to the country’s rapid economic recovery.
“Due to the war, Ukraine is facing a new reality that requires an adaptive approach to recovery. Without involving the private sector in economic recovery, Ukraine’s path to the EU and NATO will be extremely difficult,” emphasized Pavlo Kostyuk.
The URF calls on the international community for active cooperation and support, which is critical for the sustainable and successful recovery of Ukraine.
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