Fund for Restoration of Ukraine may be launched as early as end of November

The Fund for the Restoration of Ukraine can be fully operational already at the end of November – the beginning of December.

Kyrylo Tymoshenko, the deputy head of the President's Office, announced this during the conference, the press service of the head of state reports.

Tymoshenko reported that during the 225 days of the full-scale war, 94,596 destroyed infrastructure facilities were recorded in various regions of Ukraine. Of them, there are more than 25,000 objects in the Kyiv region, more than 20,000 in the Donetsk region, and more than 9,000 objects in the Kharkiv region. In particular, more than 74,000 residential buildings were destroyed. And new targets are added daily as russian shelling continues.

"Unfortunately, Ukraine will not have enough financial resources to restore such a large amount of destroyed infrastructure. It will take us many years to rebuild thousands of schools, kindergartens, hospitals, energy, and transport infrastructure facilities," Tymoshenko said.

According to him, now only more than 11,000 objects have been restored using the state budget funds. That is, they are repairing only 13% of what is needed because Ukraine is critically short of funds.

To attract financial assistance from foreign governments, agencies, and international organizations, a decision was made to create the Fund for the Restoration of Ukraine. This financial institution should become a tool for transparent receipt and effective use of international aid to reconstruct Ukraine's infrastructure.

Transparency of the Fund will be ensured by maximum control from the donor community because 75% of its supervisory board will be representatives of donors. Donors will appoint 100% of the Fund's management, and all its reporting will be publicly available.

"We plan that the Fund will be fully launched at the end of November or the beginning of December this year," he said.