The new State Agency for the Recovery and Development of Infrastructure, created on the basis of Ukravtodor and the State Agency for Infrastructure Projects, can become a key counterpart for multiple international financial institutions (IFIs), given the experience of its employees in implementing such projects, World Bank Regional Country Director for Eastern Europe Arup Banerji has said.

"We could therefore expect to see the new Recovery Agency become a key counterpart for multiple IFIs. Maintaining and hopefully even expanding their capacity to implement IFI-financed projects to high standards will facilitate that," he said in an interview with Interfax-Ukraine.

Banerji explained that many of the staff that have been taken into the new Recovery Agency have experience of implementing projects financed by the World Bank and other international partners. Specifically, this includes knowledge of the Bank's social, environmental, and fiduciary standards, which are essential for any project that we finance.

He added that the World Bank has a long history of working with Ukravtodor and the bank is already working with the new Recovery Agency – under the recently approved Restoring Essential Logistics Infrastructure and Network Connectivity (RELINC) project, which helps repair critical road and rail connections damaged by the war.

Asked about his satisfaction with the bank's spending reporting, Banerji said that PEACE's flagship project, funding the government's core social expenditures, which has already reached $17 billion, is reviewed monthly.

"Once the government pays its civil servants and teachers, and provides funding to the national pension system, the World Bank verifies that these payments have gone to the intended beneficiaries. Once confirmed, we then make the disbursement to the government. This helps to ensure that we know that the Government is funding the agreed expenditures and recipients," the regional country director said.

The bank also conducts specific audits and other verifications, he said, and there are also opportunities for individuals to report if they are owed specific payments and they have not been paid.

"It is important to note that, despite this providing support to 12 million Ukrainians, there have been no major complaints or problems that we have found," Banerji said.

"Going forward, as the World Bank moves more into helping Ukraine with recovery and eventually reconstruction, things will become more complex and will need additional strengthening of systems which we are discussing with the authorities– such as more systematic use of systems such as ProZorro," the World Bank's regional country director for Eastern Europe said.