Principles for Ukraine Economic Recovery Plans
The 7 principles of Ukraine’s recovery plans are defined in the civil society document, supported by the DiXi Group analytical center within the project “Support to the decarbonization of Ukraine’s economy through the development of new financing models through the use of debt.”
“Principles for Ukraine Economic Recovery Plans”
In the development, implementation and evaluation of all financing arrangements and associated activities and projects contributing to Ukraine’s economic reconstruction and resilience, the undersigned will seek out and support that which respects the following 7 principles:
- Urgent: Economic reconstruction and resilience efforts should begin immediately, not wait for an end to Russian aggression, and be steadily increased as the cessation of hostilities increase opportunities.
- Transparent and Accountable: implementation of transparency tools and mechanisms at all stages, clear public disclosure ensuring public access to the data on finance agreements, PPP and concessions, public procurements, and use of funds, accessible grievance mechanisms and multistakeholder monitoring mechanisms.
- People-oriented: inclusive and non-discriminatory both in participation (civil society, victim representatives and affected multi-stakeholders) and in the determination of beneficiaries; at all times being human rights-based, maximizing benefit to the civilian population and vulnerable groups, preferencing decision making and implementation closest to the affected populations (community and regional level), and seeking to avoid financing conditions that may prejudice social protections and public services.
- Prioritizing fulfilment of SDGs in order to achieve “build back better” goals. Recovery should be green making a positive environmental impact and bringing higher energy security.
- Perpetrator should pay: while the voluntary contributions of the international community and the government of Ukraine will play a part, the priority should be reconstruction financed through the voluntary or seized assets of the Russian State and the oligarchs.
- Consistent with international law and compatible with Ukraine’s desire to be a member of the EU including, best practices related to the application of social and environmental standards and safeguards, and where seizures of an individual’s assets and mechanisms to determine fault and assign remedies are concerned, consistent with the UN Basic principles
- Ensuring long-term economic sustainability when financing the recovery: consistent with a national strategy for sustainable debt, preferencing grants over loans, and stiving to protect access to markets and invite foreign direct investment.
Ukraine Center for Economic Strategy, Kyiv,
DiXi Group, Kyiv,
Ukraine Institute for Economic Research and Policy Consulting, Kyiv,
Institute of Analysis and Advocacy, Ukraine