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Ukraine will not be able to be restored solely through international public money, or such restoration will take an extremely long time. Various sources are needed. Today we are talking about three main ones. Chairman of the Board of the Institute of Economic Research and Political Consulting Ihor Burakovsky spoke about them on the FREEDOM TV channel.
“The first source is funds from international financial organizations. This money can be provided to Ukraine both on the terms of loans and on the terms of grants, that is, gratuitous assistance. The second source is support from individual countries… And, finally, the third source is related to the use of frozen Russian money,” he said.
The economist especially emphasized: when it comes to supporting individual countries, it should primarily be private capital.
“It is clear that business is a more effective owner and more effective manager than the state. And it will be necessary to agree on the specific terms of such cooperation. If we are talking about the restoration of some objects that are of commercial importance, obviously, we will need to use the tools of public-private public partnership. There may also be certain instruments associated, for example, with leasing relations or the transfer, say, of certain objects into concession, into joint management by the Ukrainian side and representatives of the capital that will restore them. Now, it seems to me, it is clear that foreign capital and, in principle, private capital are needed,” said the chairman of the board of the Institute of Economic Research and Political Consulting.
According to Burakovsky, in order to attract private capital, two main conditions are necessary: security guarantees and a healthy business climate in Ukraine.
“We are talking about banal insurance against war risks and everything related to possible physical destruction. Ukraine will not solve this issue on its own: it needs the help of international organizations and, again, private capital that works in the insurance sector. The second point: our business climate should be such as to attract foreigners here, so that we do not scare them away,” added the guest of the broadcast.
He also emphasized that since the International Conference on the Reconstruction of Ukraine in Lugano (Switzerland) in 2022, it has been said that restoration should take place according to the principle: build in such a way that it is better than before the war. This applies to all areas, including the stability of the energy system. Issues of security, reserve capacity and emergency response algorithms come to the fore.
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