Ukraine's comprehensive reconstruction plan should include institutional reforms
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Reconstruction of Ukraine after the war should proceed in parallel with the reform of this country towards the requirements of its future membership in the European Union – indicated the participants of the panel "The role of development institutions in rebuilding Ukraine's economy", which was held during the 12th European Financial Congress in Sopot. One of the conditions for the success of this undertaking is also coordination of global efforts and the creation of a uniform reconstruction plan for Ukraine.
As emphasized by Alain Piloux, Vice President of the European Bank for Reconstruction and Development (EBRD), Ukraine has a huge economic potential and before the war, it was heading in the right direction, but there was still a lot to do in the area of governance of the country and counteracting such negative phenomena as corruption, among others.
"This is a long process and this process should be resumed as soon as possible, as soon as reconstruction begins," the EBRD vice president said.
"The reconstruction of Ukraine cannot be only about financing, it should be a combination of finance and reforms," he pointed out.
He added that despite the ongoing war, the EBRD will provide Ukraine with €1 billion this year to maintain the economy and commercial infrastructure – railroads, and air transport.
Marcus Bernhard Heinz, World Bank representative for Poland and the Baltics, said Ukraine is an important country in many areas when it comes to supply chains.
"You can say that currently, the World Bank is kind of in a triage phase. It is preparing a reconstruction plan for Ukraine, but for now, these are just the beginnings. What matters to us is the social sector, agriculture, transport," Marcus Heinz explained.
