Hong Kong Fintech News, Cryptocurrency Stories, Business Press Releases

Ukraine unveils mechanism for post-conflict reconstruction

Rescue workers clear the debris at the scene where a woman was found dead after a Russian attack that heavily damaged a school in Mykolaivka, Ukraine, Sept 28, 2022. (LEO CORREA / AP)

KYIV/WASHINGTON/ANKARA – The Ukrainian president's office has unveiled a mechanism for the country’s post-conflict reconstruction named the Fast Recovery Plan, the government-run Ukrinform news agency reported on Wednesday.

Under the mechanism, Ukraine is planning to attract money from international donors to restore the infrastructure facilities which were destroyed or heavily damaged in the Russia-Ukraine conflict, said Kyrylo Tymoshenko, deputy head of the president’s office.

"We work with our international partners on this plan. I have conducted more than 30 meetings with ambassadors of foreign countries, we invite all of them to cooperate," Tymoshenko noted.

READ MORE: Zelensky meets French foreign minister on support for Ukraine

According to him, 75 percent of the recovery foundation's supervisory board members will be representatives of the donor countries.

We work with our international partners on this plan. I have conducted more than 30 meetings with ambassadors of foreign countries, we invite all of them to cooperate.

Kyrylo Tymoshenko, Deputy Head, President’s office, Ukraine

In a joint assessment released earlier this month, the Ukrainian government, the European Commission, and the World Bank estimated that the current cost of Ukraine's reconstruction amounts to $349 billion.

Americans told to leave Russia

The US embassy in Moscow has urged American nationals residing in Russia to depart the country immediately, citing what it claimed to be a possibility that Russia could conscript dual nationals for military service.

"Russia may refuse to acknowledge dual nationals' US citizenship, deny their access to US consular assistance, prevent their departure from Russia, and conscript dual nationals for military service," read an alert posted on the embassy's website Tuesday.

"US citizens should not travel to Russia and those residing or traveling in Russia should depart Russia immediately while limited commercial travel options remain," it added.

ALSO READ: Chinese envoy calls for political settlement of Ukraine crisis

The advisory came roughly a week after Russia announced a partial mobilization amid the conflict with Ukraine.  

Erdogan, Zelensky talk over phone

Turkish President Recep Tayyip Erdogan and his Ukrainian counterpart Volodymyr Zelensky on Wednesday discussed the recent developments of the Russia-Ukraine conflict over phone.

In a statement from the Turkish presidency, Erdogan said he was glad that the prisoner exchange between Russia and Ukraine had been carried out successfully after a long time of preparation.

Russia and Ukraine exchanged 200 prisoners of war under the mediation of Türkiye last week.

Men on a boat transport humanitarian aid across the Siverskyi-Donets river in front of a destroyed bridge in Staryi-Saltiv, Ukraine, Sept 27, 2022. (EVGENIY MALOLETKA / AP)

Talking about the successful functioning of the agreement on Ukrainian grain shipment through the Black Sea, Erdogan said that a similar approach can be taken with regard to the Zaporizhzhia nuclear power plant.

Erdogan reiterated Türkiye's offer to act as a mediator and facilitator in the establishment of a demilitarized zone around the power plant, according to the statement.

READ MORE: Ukraine plant key issue for nuke agency

Zaporizhzhia, one of Europe's largest nuclear power plants, has been controlled by Russian forces since early March, while its Ukrainian staff continued to operate it.

In recent weeks, the site of the plant has been attacked by shelling, sparking international concerns about its safety.