Nefco at ReBuild Ukraine: ‘Sustainability is still in the pilot stage in Ukraine,’ but community engagement is key  

The 4^th international Rebuild Ukraine Exhibition and Conference organised in Warsaw, Poland, showcased Nefco’s pivotal role in rebuilding efforts amid the ongoing war in Ukraine. As one of the few international financial institutions (IFI) implementing municipal infrastructure projects in wartime, Nefco has earned respect from Ukrainian stakeholders, municipalities, and international organisations for its fast-track, impactful, and localised initiatives. Nefco attended as a speaker in several events connected to the conference.

Читати історію українською мовою

Nefco’s efforts involve supporting small- and medium-sized municipalities in Ukraine as the country embarks on its transition to a green economy. Despite the challenges of wartime, the organisation has pushed forward with vital projects, addressing the destruction of hundreds of thousands of homes and critical infrastructure.

Julia Shevchuk, Chief Investment Advisor, shares that attendees expressed gratitude for Nefco’s work, recognising its expertise in combining local and international knowledge to ensure effective project implementation.

During an in-depth conversation on the green reconstruction of Ukraine’s communities, Julia took note of an interesting question from one of the participants: Should Ukrainian municipalities build back better or faster?

“Given the immense scale of destruction in Ukraine, the question isn’t ‘Better or faster?’—it’s how to achieve the two simultaneously. Rebuilding must prioritise both quality and speed, ensuring that reconstruction efforts meet the immediate needs of communities while setting the stage for a sustainable future. This dual approach demands the introduction of reforms alongside the practical implementation of projects,” she says, adding that sustainability is still in its pilot stage in Ukraine, highlighting the need for broader capacity-building initiatives.

For Julia, Nefco’s pilot projects represent an opportunity to modernise outdated construction norms. They pave the way for subsequent initiatives, further aligning Ukraine with European standards.

Jyrki Rautamäki, Senior Consultant, says that foreign companies and Ukrainian municipalities struggle with the fact that there is either no financing or only limited financing available. Many projects lack funding due to the extensive need for reconstruction and high risks associated with investments, although the situation is steadily improving. “The question ‘better or faster’ assumes one cannot have both, so the issue is more complex. We need to rebuild greener and better, with standards and regulations enabling faster processes, more efficient buildings, and modern solutions to address the rising demand for reconstruction in the coming years,” he adds.

Nordic representation and collaboration obstacles

The Nordic states played a significant role in the conference, hosting pavilions where organisations, companies, and guests could gather to seek information in a welcoming setting. Organised by Danish Industry (DI) and Danish Board of District Heating (DBDH), the Danish Pavilion featured exhibitors from a range of sectors, from infrastructure and energy to construction and transport logistics. Finland sent its largest delegation yet, and Business Finland, together with the Confederation of Builders of Ukraine (CBU), held a networking event. Norway and Sweden facilitated discussions and matchmaking forums while presenting potential solutions to rebuild Ukraine’s war-torn economy.

However, obstacles persist. Language barriers and limited networks for Nordic companies entering the Ukrainian market have emerged as major hurdles. Simultaneously, Ukrainian contractors continue to struggle to present themselves effectively in English, complicating collaboration efforts.

Lessons for the future

Nefco’s approach of learning by doing has proven effective in equipping Ukrainian municipalities with modern methods and technologies. This capacity-building work fosters long-term growth and resilience.

Moving forward, Nefco plans to expand its influence beyond financial forums, targeting environmental and strategic discussions to bolster sustainability in reconstruction. The Warsaw event underscored the importance of international collaboration and innovation in Ukraine’s rebuilding process, setting a foundation for future progress despite the challenges ahead.

Read more about the ReBuild Ukraine Exhibition and Conference

For further information, please contact:

Julia Shevchuk, Chief Investment Adviser, Nefco
Yuliia.Shevchuk@nefco.int; J.Shevchuk@nefco.org.ua, +380 50 473 9075

Jyrki Rautamäki, Senior Consultant, Nefco
jyrki.rautamaki@nefco.int, +358 45 172 4150

Main photo: Jyrki Rautamäki, Senior Consultant (second from right), at the Water Solar Recovery Forum at ReBuild Ukraine in Warsaw, Poland

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