Financing Ukraineʼs Recovery in the Context of Structural Transformation of International Economic Relations
Year: 2024
Type: article
Abstract: ANNOTATION.The article considers the issues of financing the economic recovery of Ukraine through the prism of relations and cooperation with international financial institutions (IFIs), in particular with the World Bank.The growing role of IFIs and other partners in the implementation of sectoral, cross-sectoral and systemic investment projects is substantiated.The author reveals the peculiarity of the formation of a new structure -the "framework" of international economic relations, when cooperation in the "donor-beneficiary" link in difficul t and unstable periods is in the form of a partnership, taking into account the rapidly changing conditions for financing priority investment projects in the interests of the beneficiary.The author discloses and analyzes the total and current required amounts of recovery financing within the framework of the Rapid Damage and Recovery Needs Assessment (RDNA 2 and 3) carried out by the World Bank in the last two years.The activities of the World Bank are shown as one of the basic institutions of the international financial system.Key sectoral priorities for recovery are emphasized.The dynamics of the volumes and sources of financing of the general fund of the state budget during the military years 2022-2024 with a breakdown of debt and grant financing is shown.The fragmentation of grant-giving partners in the country context is analyzed.The provision of grants in the aggregate of sources of financing of the state budget is a partnership manifestation of current international economic relations and cooperatio n of Ukraine with donors and providers of financial resources.The article shows an indication of Ukraineʼs cooperation with the World Bank as one of its institutional partners.The essence of joint investment projects is revealed.The practical aspects of investment policy are shown through the possibilities of solving the problem of asset management and overseeing the use of recovery funds.It is emphasized that the formation of a new economic structure should be the target and result of recovery.Given the diversity of needs and opportunities for financing the recovery, the emphasis of the financial policy of resource provision is shifting from allocatio n of necessary resources to prioritization of their distribution and control over their use.
Source: Міжнародна економічна політика
Author: Volodymyr Korneev
Language: English
Topic: Economic Issues in Ukraine
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4413283832