News

NEWS

Saturday
July, 13

Pavlo Kostyuk: Ukraine is facing a new reality that requires an adaptive approach to recovery

Featured in:
Pavlo Kostyuk: Ukraine is facing a new reality that requires an adaptive approach to recovery

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.

Originally published at https://ukrainereconstructionfund.org/pavlo-kostyuk-ukraine-is-facing-a-new-reality-that-requires-an-adaptive-approach-to-recovery/

author avatar
EDM editor
- Part of VUGA - Global Media Coverage

Latest articles

Related articles

During the “Rebuild Ukraine: Health and Rehabilitation” held talks...

About 200 companies from different regions of Europe and the world joined the event. Ukraine demonstrated its...

URF supports the call of the EU leaders to...

“The European Council calls for an urgent intensification of support to the energy sector of Ukraine by...

A new solution to finance Ukraine’s reconstruction: a trust...

Michael Bernstam, a fellow at the Hoover Institution at Stanford University, and Stephen Rosefield, a professor of...

Pavlo Kostyuk: Attracting bank funds will help Ukraine recover...

Recently, 17 leading Ukrainian banks have signed a Memorandum on bank lending for energy infrastructure restoration projects....

Congratulations of the URF leadership on the occasion of...

July 4 is not just a holiday. It is a day to celebrate the spirit of freedom...

UN considers Ukraine’s needs to restore decentralized energy system

The parties focused on the situation in the energy sector. Denys Shmyhal spoke about Ukraine’s needs for...