Billions for reconstruction: How not to finance projects that harm the environment

24 September 2026, ZN.UA / Mirror of the Week

Ukraine is being rebuilt, without waiting for the end of the war. In the coming years, billions of euros of public investment — funds from the state and local budgets — will be directed to energy, transport, housing, hospitals, and other public investment projects and programs.

But it is important which projects will receive funding, according to what criteria and rules they will be prepared and evaluated, and how effectively these funds will be used.

One of the important selection criteria should be the potential impact of projects on the environment. And this is not only about the natural environment, but also about the efficiency of the invested funds: will the country then have to pay for the rebuilt facility a second time — due to too high energy costs or unaccounted for environmental and climate risks?

Taking into account environmental criteria when preparing projects applying for public investment is also important because most of the project portfolio must be financed by international partners. And for them, the environmental component is critically important.

Read the full article (in Ukrainian) here: https://zn.ua/ukr/reforms/miljardi-na-vidbudovu-jak-ne-profinansuvati-projekti-shcho-shkodjat-dovkillju.html