Volodymyr Zelenskyy advocates for 'real' reconstruction projects

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Ukrainian officials say a push to stabilize the economy and save private sector activity will generate tax revenue to fund its war effort. “We can pay soldiers' salaries with taxes alone,” said Oleksandr Kubrakov, deputy prime minister for recovery. “No one knows how long this war will last. It is essential to begin recovery.” Ukrainian companies have resisted, but many are in financial difficulty due to a punitive 25 percent interest rate and a lack of collateral. A World Bank survey found that 69 percent of large Ukrainian companies are expected to be in default in the next six months. 75 percent of exporters have experienced a drop in exports due to logistical problems. The Ukrainian government lacks experience in planning and managing capital projects, creating bottlenecks for reconstruction, development bank officials say.

Capacity building in Ukraine is really important,” said Anna Bjerde, chief operating officer of the World Bank. She noted that Ukraine's capital spending amounted to $4-5 billion a year before Russia Mobile Number List the full-scale invasion. Now I would have to manage several times that amount. Kubrakov said his country does not lack qualified personnel, but the effort to comply with the procedures of international financial sponsors has grown enormously. Kyiv has asked donors to take over the procurement of some projects to ease the burden. Donors and lenders are also stepping up their monitoring procedures to prevent corruption.



Disbursed in kyiv since February 2022 by the World Bank has been paid to Ukraine's Finance Ministry, which has a "robust financial monitoring system," Bjerde said. “When we move into other sectors, we need to be really aware of the risks of corruption.” The EU commission will establish an independent audit board to report on suspected mismanagement of public funds and weaknesses in control. Meanwhile, Ukrainian officials tout the technology as a way to reassure donors and lenders about the risks of fraud and corruption. The government says it will deploy a suite of apps and digital tools, known by the acronym DREAM, to manage contracts and track money.