The European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and the International Bank for Reconstruction and Development (part of the World Bank Group) will help to build the institutional capacity of Ukrainian ministries and agencies in preparation for the country’s economic recovery.
“The scale of reconstruction is vast and beyond the needs of any single institution. The latest needs assessment by the World Bank and Ukrainian government puts the cost of reconstruction over 10 years at US$ 411 billion,” says a press release by the EIB. “To meet these needs, Ukraine must improve its implementation capacity for public sector projects so it can absorb and effectively use the large inflows of money which reconstruction can be expected to bring.”
The first step would be to provide technical assistance and sector expertise at the State Agency for Infrastructure Rehabilitation and Development of Ukraine to establish an effective project implementation unit.
This could then be extended to other critical line ministries, state companies and agencies, with extensive training for civil servants and the involvement of key international and local experts in key areas through a transparent selection process.
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