Pritzker names five conditions for rebuilding Ukraine

U.S. Special Representative for Economic Recovery of Ukraine, Penny Pritzker, presented a plan of five conditions that should ensure the nation’s successful recovery.

She said this during a speech at the Brookings Institute in Washington, Ukrinform reports citing VOA.

First of all, Ukraine urgently needs to develop government planning for a unified recovery project with an approach. In her opinion, the lack of coordination between various agencies slows down the recovery process. To implement this point, technical experts, engineers, planners, and program managers who can work together with civil servants should be involved.

After the creation of a single project for the reconstruction of Ukraine, teams will be needed, ready to draw up projects for investment and implementation. The U.S. special representative noted that the international community and the private sector will provide technical support — the World Bank and the European Investment Bank are already doing it — to expand the list of investment projects from dozens to hundreds. At the same time, the Ukrainian government can use digitalization to increase transparency and ensure stakeholder awareness.

The third condition, according to Pritzker, is continuing anti-corruption reforms, which is important for large-scale investments and economic prosperity.

The U.S. special representative is convinced that the world should allocate more capital to invest in Ukraine. According to Pritzker, insurance is crucial for attracting large investors. She calls on commercial and investment banks to diversify risk assessments of war insurance in different territories of Ukraine, depending on how much they were affected by war.

Pritzker considers the return of Ukrainians from abroad to be an important prerequisite for the successful recovery of the country. Currently, Ukraine has no sufficient labor force for reconstruction. According to Pritzker, Ukraine needs to prepare for the physical, psychological, and social needs of its citizens returning to the country. In addition, it will be necessary to attract the workforce strategically and retrain women to work in positions that have historically been held by men.

Pritzker believes such a vision of Ukraine is ambitious, but achievable, and that the world should help Kyiv turn the "Ukrainian dream" into reality. However, the country must take the initiative for recovery into its own hands.

As Ukrinform reported earlier, Penny Pritzker, the U.S. special representative for the economic recovery of Ukraine, said she was completing her one-year term of office.

Photo: VOA