ECONOMIC AND LEGAL INSTRUMENTS FOR ENSURING THE FINANCING OF UKRAINE'S RECONSTRUCTION PROJECTS: LEGAL AND REGULATORY ANALYSIS

Анотація

The article is dedicated to analyzing the role of international financial organizations in supporting Ukraine’s reconstruction projects. It identifies that one of the key challenges in the recovery process is the substantial amount of resources required, which cannot be provided solely through the country’s internal efforts. It is emphasized that initiating and continuing the reconstruction process during the post-war period is only possible through the consolidation of efforts by international financial institutions. It is noted that financial support provided by organizations such as the World Bank, the International Monetary Fund, the European Investment Bank, and the European Bank for Reconstruction and Development is one of the most significant forms of assistance. This support includes the provision of grants and loans. At the same time, experts and researchers stress that financial assistance should primarily be provided in the form of grants rather than loans, given the economic challenges facing Ukraine. The article also highlights the consultative support provided by IFOs, which includes facilitating the mobilization of additional resources through international donor conferences and attracting private investments. It proposes viewing IFO support as a comprehensive set of measures aimed at providing financial, technical, and advisory assistance, as well as contributing to the recovery of the economy, infrastructure, social facilities, and enhancing the country’s resilience during and after the conflict. The effectiveness of such support is said to depend on adherence to several principles, including the reform and modernization of state institutions, ensuring transparency and accountability in resource utilization, combating corruption, fostering international coordination, maintaining flexibility and adaptability, as well as regular monitoring and evaluation of project outcomes. The article concludes that transparent legislative regulation is necessary to ensure the effective use of IFO assistance. Such regulation should consider the specifics of international financing, ensure effective management of financial resources, and prevent potential misuse.

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