The Importance and Prospects of International Financial Institutions' Assistance in the Country's Recovery

ANNOTATION.The article emphasizes that significant amounts of financial support to Ukraine, including by international organizations and individual states, require constant professional analysis, identification of appropriate financing instruments and development of a unified approach to effective attraction of such support at the state level.The author emphasizes that the lack of a holistic vision of the mechanism for attracting and channeling internatio nal assistance to Ukraines needs, as well as the absence of a single coordinated position of the Ukrainian side in terms of mobilizing external financing for the countrys economy and clear coordination of donors activities, requires appropriate government action to comprehensivel y address these issues.The volume, dynamics, and structure of financial assistance provided by international financial organizations with which Ukraine cooperates are assessed.First of all, this concerns effective cooperation with the International Monetary Fund, which is one of the levers of maintaining the countrys financial stability in times of war and the third largest partner of Ukraine in terms of financial assistance after the EU and the United States.At the same time, the IMF insists on the need to strengthen the countrys domestic financial capacity.The World Bank Groups assistance is equally large, but more diversified: support for the public sector, sustainable public administration, balancing Ukraines currency and financial position, support for education, healthcare, pensions, financial assistance to internally displaced persons, support for social assistance programs, etc.The article highlights the priority areas of support for Ukraine by the European Bank for Reconstruction and Development during the war: energy security, infrastructure, food security, business support and trade finance.The EBRD is identified as the largest investor in Ukraine, which currently has a portfolio of promising projects.The article also shows the contribution of the European Investment Bank and the Council of Europe Development Bank in supporting Ukraine during the war, and describes large-scale projects of the State Bank of the German Government (more than 10 investment projects) and the International Financial Institution Nordic Environment Finance Corporatio n (restoration of water supply in Mykolaiv, rebuilding community infrastructure, etc.).The articl e analyzes possible ways to reduce the cost of credit resources for Ukraine from internatio nal financial institutions and the possibility of speeding up the process of preparing new projects to finance important areas of economic development for the country.In the context of the ongoing war, the issue of organizing the process of providing public authorities with constant monitoring, analysis of the amount of assistance provided to Ukraine by international organizations and individual states, as well as forecasts of the prospects for receiving this assistance, has become particularly important.It is substantiate d that addressing these issues will help to create a

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Publication Details

Journal
Міжнародна економічна політика
Published
2024-12-31
DOI
https://doi.org/10.33111/iep.eng.2024.41.09
Primary Topic
State Capitalism and Financial Governance
Type
article
Field-Weighted Citation Impact
0.00
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article

The Importance and Prospects of International Financial Institutions' Assistance in the Country's Recovery

Victoriia Kolosova
1 links
Міжнародна економічна політика
State Capitalism and Financial Governance
article

The Importance and Prospects of International Financial Institutions' Assistance in the Country's Recovery

Victoriia Kolosova
article en

Abstract

ANNOTATION.The article emphasizes that significant amounts of financial support to Ukraine, including by international organizations and individual states, require constant professional analysis, identification of appropriate financing instruments and development of a unified approach to effective attraction of such support at the state level.The author emphasizes that the lack of a holistic vision of the mechanism for attracting and channeling internatio nal assistance to Ukraines needs, as well as the absence of a single coordinated position of the Ukrainian side in terms of mobilizing external financing for the countrys economy and clear coordination of donors activities, requires appropriate government action to comprehensivel y address these issues.The volume, dynamics, and structure of financial assistance provided by international financial organizations with which Ukraine cooperates are assessed.First of all, this concerns effective cooperation with the International Monetary Fund, which is one of the levers of maintaining the countrys financial stability in times of war and the third largest partner of Ukraine in terms of financial assistance after the EU and the United States.At the same time, the IMF insists on the need to strengthen the countrys domestic financial capacity.The World Bank Groups assistance is equally large, but more diversified: support for the public sector, sustainable public administration, balancing Ukraines currency and financial position, support for education, healthcare, pensions, financial assistance to internally displaced persons, support for social assistance programs, etc.The article highlights the priority areas of support for Ukraine by the European Bank for Reconstruction and Development during the war: energy security, infrastructure, food security, business support and trade finance.The EBRD is identified as the largest investor in Ukraine, which currently has a portfolio of promising projects.The article also shows the contribution of the European Investment Bank and the Council of Europe Development Bank in supporting Ukraine during the war, and describes large-scale projects of the State Bank of the German Government (more than 10 investment projects) and the International Financial Institution Nordic Environment Finance Corporatio n (restoration of water supply in Mykolaiv, rebuilding community infrastructure, etc.).The articl e analyzes possible ways to reduce the cost of credit resources for Ukraine from internatio nal financial institutions and the possibility of speeding up the process of preparing new projects to finance important areas of economic development for the country.In the context of the ongoing war, the issue of organizing the process of providing public authorities with constant monitoring, analysis of the amount of assistance provided to Ukraine by international organizations and individual states, as well as forecasts of the prospects for receiving this assistance, has become particularly important.It is substantiate d that addressing these issues will help to create a

Міжнародна економічна політика(41)
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State Capitalism and Financial Governance
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