Ukraine’s large-scale recovery is impossible without attracting long-term capital and introducing modern financial instruments. Public funding alone is insufficient, so we need to create transparent and effective mechanisms for investors.
Yurii Maslov, Chairman of the Board of the NGO “Ukraine Rebuilding Alliance,” held a strategic meeting with Oleksii Semeniuk, Chairman of the National Securities and Stock Market Commission of Ukraine. The discussion focused on using capital market instruments to implement infrastructure, energy, and social projects in local communities.
What are we proposing for Ukraine’s recovery?
• Securitization and covered bonds. Following the adoption of the new legislation (Draft Law No. 15172), we are exploring opportunities to raise capital against future contractual payments for social rental housing projects. Combining this mechanism with donor support would make it possible to keep housing affordable for people while ensuring returns for investors.
• Pilot projects. Together with our partners, we are actively working on the Mariupol housing project in Bila Tserkva. The first stage envisages the construction of 1,200 apartments for internally displaced persons (IDPs). This financing model is intended to become a benchmark for the further reconstruction of the country’s housing stock.
• Modernization through municipal bonds. The development of Odesa and the southern regions requires systematic investment in energy and spatial planning. Municipal bonds can enable communities to reduce their dependence on government subsidies and transparently attract market capital for specific targeted programmes.
“Our task is to ensure that capital market instruments work not only in theory, but also help finance specific reconstruction projects,” Oleksii Semeniuk emphasized during the meeting.
The Ukraine Rebuilding Alliance continues to work to transform the investment needs of local communities into clear, economically sound, and market-attractive projects.
