Czech President Pavel outlines inclusive recovery plan to rebuild Ukraine
Photo: Petr Pavel, President of the Czech Republic (Getty Images)
Ukraine needs a comprehensive recovery plan that will include several pillars, notably a broad political coalition and more, says Czech President Petr Pavel during his speech at the Ukraine Recovery Conference.
The Czech president explained that the plan will include:
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A broad political coalition that unites EU member states with other partners, such as the US, the UK, Canada, Japan, and others.
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A shift from fragmented coordination to effective governance. This will allow the decision-making center to independently set priorities, allocate resources, and oversee their use.
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Private companies should lead recovery efforts, with public funds acting as a catalyst.
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Ukraine's recovery must proceed within the framework of its integration into the European Single Market.
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Resources should be used according to each country's capabilities. Every country will contribute where it can be most effective.
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Focus should be placed on the regions most affected. These areas must become recovery hubs.
"We should consider mobilizing joint EU instruments, such as, for example, common borrowing and the use of frozen Russian sovereign assets to support the recovery efforts," he added.
Ukraine Recovery Conference
The Ukraine Recovery Conference is taking place from July 10 to 11. It continues a series of high-level political events dedicated to the rapid recovery and long-term reconstruction of Ukraine.
During today's conference, President Volodymyr Zelenskyy called for the creation of a Ukraine recovery coalition modeled after the Marshall Plan.
