The Zelenskyy office has explained how the Restoration Fund of Ukraine will work.

The Zelenskyy office has explained how the Restoration Fund of Ukraine will work.

Friday, September 23, 2022

According to the deputy head of the Office of the President, Kyrylo Tymoshenko, the new law on the Ukraine Restoration Fund will allow all reconstruction projects to be carried out through the fund because now these are point projects implemented by various funding systems from Ukrainian donors. Tymoshenko added that the Reconstruction Fund will deal with both fundraising and reconstruction projects, including their financing. The donor countries will control the recovery fund, which will help with recovery. The Supervisory Board of the Fund will consist of 75% donor countries and international organizations. The board will choose the management and implement all the fund’s initiatives. The Restoration Fund will be provided with information about properties that need to be restored. Then, the fund will make purchases and select a contractor. Next, a tripartite contract will be concluded between the fund, the balance keeper of this restoration facility, and the subcontractor chosen by the fund.

UBN

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