Penny Pritzker, who is the former US Secretary of Commerce, was appointed on September 14 as the new special representative of the United States to Ukraine, who will be responsible for the economic recovery of Ukraine.
About how the newly appointed American plans to help Ukraine restore its economy during and after the war, as well as what powers it has, the official said in an interview with European Pravda.
According to her, her competencies include working with the government of Ukraine, the US government and the US Ambassador to Ukraine Bridget Brinks. Pritzker will also work with US allies to “jointly accelerate the economic recovery of Ukraine”.
Now watching
— There will be a separate focus on reforms related to transparency and accountability of recovery — these are changes in the regulatory environment, law enforcement agencies, the judicial system, in the fight against corruption, management of state-owned enterprises, etc., — added the US special representative.
Another important part of Pritzker's mandate is working with the private sector.
— I strive to convince companies in various sectors of the economy — in energy, transport, logistics, agriculture, production of critical materials and IT technologies — invest in Ukraine. Businesses need to understand that there are now opportunities for investment in Ukraine, — she explained.
According to his position, Pritzker will also enter the interagency donor coordination platform, where he will work with the governments of partner countries, the European Commission and international financial institutions, as well as the private sector.
In addition, the American official will communicate with Congress United States to lobby for Ukraine's interests.
However, Pritzker says, presidential elections in the United States during 2024 should not interfere with stable support for Ukraine, since there is now bipartisan support for long-term assistance to Ukraine.
— However, in order to receive funds from the United States, there will now be certain conditions. This should not surprise anyone in Ukraine. Reason — that our government wants to see Ukraine making progress in various areas. We want to see an environment conducive to private investment — she explained.
Such conditions, says the US representative, will include transparency, accountability and the appropriateness of the use of American funds, as well as the implementation of reforms.
— We are talking about implementing the reforms necessary for Ukraine to become a member of the EU and the Western trading bloc, which Ukraine itself strives for, — she said.
At the same time, Pritzker is confident that foreign businesses will begin investing in Ukraine during the war.
— The economic recovery of Ukraine is already happening! Housing is being built, investments are being made in infrastructure, and investments are being made in energy. Ukraine demonstrated great resilience during wartime. And I have to prove to private sector players that there is something they can invest in now. Explaining exactly what can be done safely will be a big part of my job, — she said.
The US special envoy says the private sector needs to better understand what the situation is in Ukraine in order to attract more money here.
According to her, the technology sector in Ukraine is already growing, and another opportunity for investment is the energy network, which is a legacy of Soviet times.
— And now it has the opportunity to transform using green technologies. Or let's look at agriculture. There is no doubt that Ukraine is already capable of producing agricultural products. But Ukraine needs to get more added value through its processing. This is necessary even despite security challenges, due to threats to trade routes, — Pritzker explained.
Also, the official believes, there is an obvious need to invest in the extraction of critical minerals that all of Europe and the rest of the world need. There is also a continued need for investment in transport and logistics.
— Of course, the need for security is absolutely necessary, and risk insurance programs are also needed, — she explained.
Penny Pritzker says she will work on “adequate insurance” from the US International Finance Corporation, the EBRD and the World Bank.
