“Ukraine Must Convince the World That We Will Spend Money on Recovery without Corruption,” European Business Association

Mechanisms for the reconstruction of Ukraine are still under discussion. So far, there is no single instrument to accumulate and spend funds on rebuilding our country after the war. Anna Derevyanko, Executive Director of the European Business Association, told this during her briefing at Media Center Ukraine. According to her, these are the results of the Ukraine Recovery Conference that took place earlier this week in Lugano, Switzerland.

“Major investments are likely to come from governments via official channels. A Fund will also be set up. The European Commission offered one platform option; Ukraine came up with other options. They will make a decision somewhere halfway. In my opinion, there must be a single institution responsible for raising funds and transparently spending the money on the country’s recovery. However, there seems to be no final understanding of the functioning of these mechanisms,” Anna Derevyanko said.

According to her, the lack of corruption when spending money on recovery is the key issue for foreign partners.

“If foreigners see at least a hint of corruption, it will be difficult to raise money for the reconstruction of our state,” the Executive Director of the European Business Association explained.

It was reported that leaders of about 40 countries signed a declaration setting out a number of principles for the reconstruction of Ukraine as a result of the Ukraine Recovery Conference that took place in Lugano, Switzerland, on July 4 and 5. The countries undertook to support Ukraine’s post-war reconstruction and accepted the need for broad-based transparency and anti-corruption reforms.

Read more: https://mediacenter.org.ua/news