Abstract
In the context of the extensive destruction Ukraine has suffered as a result of the war, there is an acute shortage of funds for economic recovery. The assessment of damage, losses, and needs for the reconstruction and rebuilding of Ukraine is reflected in the updated World Bank report - Third Rapid Damage and Needs Assessment (RDNA3). The key tasks and goals for Ukraine's economic development are outlined in the Ukraine Facility Plan. Given this, the organizational, legal, and financial aspects of interaction with potential investors require greater attention in the implementation of the priorities set out in the Ukraine Facility Plan. This article is dedicated to studying the mechanism of project financing in Ukraine in the context of implementing the comprehensive economic development plan - Ukraine Facility Plan. It reveals the features of organizing the financing of projects with significant investments in the real sector of the economy. The article provides a list of organizations responsible for the development and implementation of the "Ukraine Facility Plan" at national and territorial levels, as well as those facilitating interaction with foreign investors. A list of contentious issues related to the imperfections of the current financial and legal mechanism, which may lead to potential conflicts of interest and risks in the process of interaction between participants in the investment process in Ukraine, is defined. Attention is drawn to the need to intensify work on supporting foreign investments at the state and regional levels. Given the high level of business risk in Ukraine, the mechanism for assessing and distributing risks among project participants requires greater attention. Based on the study of existing legislation, it is concluded that financial risks are the primary types of risks in the implementation of projects with significant investments in Ukraine. A list of World Bank Group instruments that can be used to protect the interests of investors in the implementation of large-scale investment projects in Ukraine is presented.
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