Today's Contents
Reporter's Notepad:
- 5 construction tips for investors looking to help rebuild Ukraine, from the veteran US head of a Kyiv engineering firm
Just The Facts:
- Russia signals fresh talks with US could start this week as Kyiv, Kryvyi Rih suffer missile attacks
- EU approves €1.5 billion Polish aid scheme to cover war-related transport risks in Ukraine
- Germany pays for Ukraine's satellite access via Eutelsat as Europe seeks alternatives to Starlink
- Ukraine, France explore options to launch renewable energy projects in Chernobyl exclusion zone
- Ukraine will select law firm to represent it in minerals deal talk with US, Zelensky says
- UNITED24 and Ukraine's economy ministry launch $1.5 million fundraising campaign for demining
Here's What They Think:
- Modern Diplomacy: Fast-tracked EU membership is strongest security guarantee for Ukraine
- Open Canada: Seized Russian assets in Canada should fund Ukraine's recovery
Sober Second Thought:
- Ukraine's aid ecosystem at risk of collapse amid USAID funding halt, analysis finds
The Rebuilders' Social
- Global Clearance Solutions debuts repair shop for mine clearance machinery in Ukraine, Chief Digital Transformation Officers gain new role in government, and Energoatom eyes collaboration with Hyunday.
Dear Subscribers,
Here's the latest installment in our Tips for Investors series, this time focusing on investors who aim to actually build something in Ukraine.
5 construction tips for investors looking to help rebuild Ukraine, from the veteran US head of a Kyiv engineering firm
American Dan Aspleaf does not promise easy wins in Ukraine for foreign investors looking to actually build something. He knows the work can be messy, the boundaries unclear, and the bureaucracy infuriating.
He also knows that, with forethought and good advice, companies looking to join the reconstruction of Ukraine can overcome those barriers, and fruitfully help build a better future for the country.
Dan has been based in Ukraine for 16 years as managing director of CDM Engineering. His experience includes developing and managing complex projects involving investments in water, waste water, solid waste, transport, energy-related infrastructure, and more.
He has stayed in Ukraine throughout the full-scale war, working extensively for international donors such as USAID as well as international finance institutions various US and European multinationals.
Dan Aspleaf's 5 Tips for Foreign Investors Looking to Build in Ukraine
#1 - Don't Let the European Feel Trick You
"Foreigners come to Kyiv or Lviv for the first time, walk around city, see how nice it is and how nice the people are. Their lawyers show up well dressed to their meetings. And they think: 'Come on! This is a modern city. It's Europe.'"
"They are lulled into thinking that the legal framework and the professional framework and the commercial legal system is something that they can relate to."
"But Ukraine is not a mature market in engineering and construction. That's the first advice I would give anybody: Remember that you're not in Europe."
"It's not even like the rest of Eastern Europe. The Polish market, for example, is significantly more mature than in Ukraine."
#2 - Hire Local Engineering Firms First, Not Just Lawyers
Foreign investors' first move is often to hire a law firm. In Ukraine, Dan suggests foreign firms involved in actual construction turn first to a local engineering firm.
“If you're going to build something in Ukraine, don't just hire a lawyer,” Aspleaf says. “You need someone who actually understands how things get built here. That's usually an engineering firm because they deal with all the permits, all the licenses.”
“The engineering firm knows how to get your permit through the system. They know how to talk to the people who review your paperwork, what buttons to push.”
Many outsiders “show up with a team of international lawyers, and six months later they still don’t have their permits. Meanwhile, a local engineering firm could’ve had them halfway to site prep.”
"These firms can tell you if the rules just changed last week, or if a certain ministry has a new person in charge who’s slowing things down.”
#3 – Bureaucracy, Not Bribery, Is the Problem
“I don't think corruption is really the problem in Ukraine that people think it is.”
“The real obstacle is bureaucracy. And it’s a lot harder to fight bureaucracy than to fight corruption. It's a real mess and it's hard for foreign investors to navigate.”
"75% of the licensing or certifications... should be eliminated. They add no value. They're designed to create artificial monopoly, which, by the way, fuels a lot of the corruption."
"I tried to get a basic GeoTech license six years ago. It's a requirement here for a lot of design, and I didn't want to keep subcontracting it out, because it takes forever. The equipment needed to do it is fairly simple, but you need a license. I had my lawyer look at it, and after two months, he came back and said, 'Listen, the state geo service won't issue a license. In their opinion, there's already enough licenses out there.'"
"All this regulatory nonsense doesn't add value. In this country, you need to find an individual with a license to do a topographic survey - a topo survey!"
"If you and I go out on a Saturday morning, I'll have you doing topo surveys by yourself by Monday at lunch. It shouldn't be a licensed profession!"
#4 - Prepare for Missed Deadlines and Milestones
"You can't come here with the mindset that we've got to get everything built in six months. I mean, you're just kidding yourself."
"If you thought it would take six months to break ground, plan for 12. If it’s faster, great — but don’t bank on it."
"There is no fast-track path. There’s no version where you walk in, get approvals in three weeks, and start breaking ground. It’s going to take longer than you expect, no matter what."
"Even before the war, the permitting system here was slow. Now, with a lot of officials displaced or systems being rebuilt, things are even slower. There’s a lot of fragmentation."
"One of the big surprises for outsiders is just how long it takes to get everything aligned."
#5 - Don't Try to Do Things on the Cheap
"Most of my private sector clients I've gotten because they came here try to do it themselves, and they ended up with a four-alarm fire."
"If you want legal companies that are capable and play by the rules, you're going to have to accept that it's probably going to take longer than you want it to."
"I had a mission from the US asking me a while back how many completely legal construction companies there are in Ukraine. I told them that, as far as I know, there are very, very few. They came back to me some time later and said: 'Dan, you were wrong. We couldn't find any."
"I have a team of full labor salary people that they come to work every day. We're fully legal on the accounting side. Transparent management, no offshoring. You know, we passed the US accounting compliance test everything."
"If you pay everybody fairly, and you pay your taxes the way you're supposed to, it's expensive."
Russia signals fresh talks with US could start this week as Kyiv, Kryvyi Rih suffer missile attacks
Russian President Vladimir Putin's investment envoy, Kirill Dmitriev, said on Sunday that new diplomatic contacts between Moscow and Washington could resume as early as this week, the Kyiv Independent reported.
Speaking to Russia's state-run Channel One, Dmitriev expressed "cautious optimism" about the renewed engagement, as reported by the Kyiv Independent.
"Of course, the big focus is on restoring Russian-American relations. I have been busy with this for a long time, for many years," Dmitriev said. "Of course, the focus is on economic and investment cooperation... We see the beginning of a respectful, good dialogue."
Dmitriev said last week he was in Washington on April 2-3 to meet with Trump administration officials. Dmitriev, who heads the Russian Direct Investment Fund, was the highest-ranking Russian official to travel to the US on state business since the Russian full-scale invasion of Ukraine in February 2022.
Russia's defense ministry claimed on Saturday that Ukraine had escalated its attacks on Russian energy infrastructure, reporting 14 strikes in the past 24 hours despite a US-brokered moratorium. The ministry said via Telegram that Ukraine "multiplied the number of unilateral attacks using drones and artillery shells on the energy infrastructure of Russian regions." However, Ukraine's military rejected these claims, labeling them as "fake" and "disinformation," Reuters reported.
In addition to these reports, Russian missile strikes continued to target Ukrainian cities. A Russian ballistic missile attack on Kyiv overnight on April 6 killed one person and injured three others. Just days earlier, on April 4, a missile attack on Kryvyi Rih—President Zelensky's hometown—killed 19, including nine children, and injured 75 people, according to the Kyiv Independent.
EU approves €1.5 billion Polish aid scheme to cover war-related transport risks in Ukraine
The European Commission (EC) said it has approved a €1.5 billion Polish state-backed scheme to reinsure transport in Ukraine, aiming to sustain trade flows disrupted by Russia's ongoing aggression.
Poland has notified the EC of the scheme under which its public export credit agency, KUKE, will offer reinsurance to cover war-related risks—such as damage from military operations, sabotage, or terrorism—for insurers covering transport within Ukraine.
The direct beneficiaries will be insurers operating in Poland, while local transport companies delivering goods in Ukraine will benefit indirectly, the EC said in a press release on Friday.
Under the scheme, aid will be provided as public reinsurance, with KUKE covering 80% of war-related risks and insurers retaining the remaining 20%. After deducting commissions for acquisition and administrative costs, insurers will pay KUKE a risk premium to ensure proper risk assessment and pricing.
The scheme excludes standard commercial transport risks and will remain in effect until June 30, 2027, according to the statement.
The EC said it found the scheme to be necessary, appropriate, and proportionate to support transport services vital for trade between EU member states and Ukraine, particularly when private market solutions are unavailable.
The scheme has a clear incentive effect, as the beneficiaries would not pursue these activities without public backing. Poland has also introduced safeguards to limit the scheme's impact on competition and trade within the EU, the EC stated.
In September, KUKE for the first time insured the production complex of a Polish company in Ukraine, with the value of the insured object exceeding $45 million, the Ukrainian economy ministry said at the time.
Political risk insurance for that investment was provided by the World Bank's investment guarantee agency MIGA and was reinsured by KUKE. The insurance covers potential losses related to war risks, the ministry said at the time, without providing further details about the insured object.
Germany pays for Ukraine's satellite access via Eutelsat as Europe seeks alternatives to Starlink
Germany has been funding Ukraine's access to a high-speed satellite internet service provided by France's Eutelsat, as Europe looks to diversify beyond Elon Musk's Starlink network, Reuters reported.
Eutelsat CEO Eva Berneke told the news outlet that the service has been operational in Ukraine for about a year through a German distributor, without disclosing the cost.
Currently, fewer than 1,000 Eutelsat terminals are in use in Ukraine — a modest figure compared to the estimated 50,000 Starlink units deployed in the country. However, Berneke expects a significant scale-up soon.
"Now we're looking to get between 5,000 and 10,000 there relatively fast," Berneke said, noting that the expansion could take place "within weeks."
Poland currently pays for a part of Ukraine's connectivity, and has spent approximately PLN 323 million (€77 million) on over 24,500 Starlink terminals between 2022 and 2024, the Polish ministry of digital affairs told state news agency PAP. In 2025, Poland will pay further PLN 77 million for Starlink's services.
Whether Germany will also finance the additional units remains undecided. Eutelsat spokesperson Joanna Darlington told Reuters the matter is still being discussed. "We don’t know yet how the EU collectively or country by country will fund efforts going forward," she added.
Starlink has been crucial for the Ukrainian military throughout the war with Russia, as much of the country's communications infrastructure has been destroyed. However, tensions between Washington and Europe have sparked concerns about potential service disruptions.
In March, the European Commission said in a white paper on the future of European defence that the EU should finance Ukraine's access to space-based services offered by EU-based commercial providers, including start-ups and scale-ups.
Ukraine, France explore options to launch renewable energy projects in Chernobyl exclusion zone
Ukraine and France are exploring opportunities to invest in renewable energy projects in the Chernobyl exclusion zone, according to the Ministry of Environmental Protection and Natural Resources of Ukraine.
The initiative was discussed during a visit by Ukraine's Minister of Environmental Protection and Natural Resources, Svitlana Hrynchuk, and Pierre Heilbronn, Special Envoy of the President of the French Republic for Assistance and Recovery of Ukraine, to the Chernobyl exclusion zone., the government said in a press release.
The visit builds on discussions held in February, when French officials expressed strong interest in renewable energy development in the zone. According to the ministry, French companies have already conducted analyses and identified significant potential for investment in clean energy in the area.
In addition to discussing green energy projects, the delegations assessed the damage caused by a recent Russian attack on the New Safe Confinement (NSC)—a structure built to contain radioactive material from the 1986 Chernobyl disaster, according to the release.
France is now considering support for the restoration works through the International Cooperation Account for Chernobyl, a fund dedicated to strengthening nuclear safety and environmental remediation efforts. Work is currently underway to evaluate the extent of the damage and develop a plan to restore the NSC's functionality.
Separately, Heilbronn said in an interview with Ukrinform that the Agence Française de Développement, which now operates in Ukraine, is engaged in technical assistance and will provide direct financing to Ukrainian municipalities totaling €450 million over the 2025–2027 period. Additionally, Heilbronn noted that 19 infrastructure projects worth €200 million have already been approved, to be carried out by 17 French companies, according to a Ukrinform report.
"We've received in a few weeks, in fact, requests for a total of €800 million. So, it shows also that French companies are very much interested in supporting Ukraine because Ukraine is a country of opportunity," he added.
Ukraine will select law firm to represent it in minerals deal talk with US, Zelensky says
Ukraine is in the process of selecting a law firm to represent its interests in upcoming negotiations with the United States over a critical minerals agreement, President Volodymyr Zelensky said, as reported by Interfax-Ukraine.
""We will agree with one of the three companies at the beginning of next week. The conditions are currently being discussed," Zelensky told journalists, revealing that three top law firms have been shortlisted.
Zelensky stressed the importance of a "just and partnership-based" approach to the deal, which aims to boost cooperation in critical raw materials, according to a report from Interfax-Ukraine.
"The team will briefly present this agreement to me, the most important things at the beginning of the week and after that, in principle, the technical team will be ready for a trip to the US and for a dialogue with our American partners," Zelensky said.
The president confirmed that he does not plan to travel to the US at this stage. "I am not going to do it yet," he said.
According to the Financial Times, Zelensky also directed Ukraine's domestic security service (SBU) to investigate the the source of a leaked draft of the critical minerals and energy assets deal. The probe reportedly includes the use of polygraph tests on government employees across several ministries.
The leaked US proposal significantly expands on a framework agreement reached in February but later abandoned after a falling out between Zelensky and US President Donald Trump and VP JD Vance, according to the Financial Times.
It calls for a joint supervisory board to oversee revenue from Ukraine's oil, gas, and mineral projects, sparking alarm among Ukrainian officials, who argue it could threaten national sovereignty and derail the country’s EU integration path.
UNITED24 and Ukraine's economy ministry launch $1.5 million fundraising campaign for demining
Ukraine's state fundraising platform UNITED24, in partnership with the country's Ministry of Economy and the Humanitarian Demining Center, has launched an initiative to raise $1.5 million for demining, according to a government press release.
The campaign will support demining civilian infrastructure, including a hospital in Vysokopillia in the Kherson region, Fenevitsk and Makariv forests in the Kyiv region, a school, kindergarten, recreation park, and playgrounds in the village of Hrakove, Chuhuiv district, Kharkiv region.
All these sites were damaged or mined during Russian occupation, the ministry of economy said in a press release. In Hrakove, 90% of the village territory was mined, with 178 cluster bombs found on a single property.
"Humanitarian demining in Ukraine is much more than just returning territories to use. It is about returning lives, about people's safety. The unprecedented amount of contamination by dangerous remnants of war requires unprecedented solutions," said Yulia Svyrydenko, Ukraine's economy minister.
Ukraine is now the world's most mined country, with up to 23% of its land at risk of contamination from landmines and unexploded ordnance, according to the United Nations Development Programme.
This not only endangers civilians—especially curious children—but also significantly impacts agriculture and the economy, leading to annual losses of $11.5 billion and posing risks to global food security, according to the press release.
Modern Diplomacy: Fast-tracked EU membership is strongest security guarantee for Ukraine
With Ukraine's future hanging in the balance and NATO membership increasingly unlikely, the European Union should step up and offer Ukraine a clear path to EU membership, providing the political and security anchor the country urgently needs, Antonia-Laura Pup, a policy fellow with Young Voices Europe, wrote in an op-ed for Modern Diplomacy.
A strategic Eastern enlargement would position the EU as a geopolitically significant power, aligning with its leaders' ambitions to avoid being caught between Washington and Moscow. It would also send a strong message to the new Trump administration, demonstrating that the EU is determined to assert its influence and actively engage in Ukraine's security discussions, rather than remain a passive bystander, Pup argued.
Open Canada: Seized Russian assets in Canada should fund Ukraine's recovery
Canada must now take decisive action and back its rhetoric by utilizing both its financial resources and the frozen Russian assets to help fund Ukraine's recovery, Mark Kersten, an assistant professor in Criminal Justice and Criminology at the University of the Fraser Valley, wrote in an op-ed for Open Canada.
Canada has frozen around $140 million of Russian state assets, while in Europe, $300 billion in Russian assets are frozen, with about 8% held in Canadian bonds. These bonds have since matured, leaving roughly $22 billion in Canadian dollars at Euroclear, Kersten noted.
Ukraine's aid ecosystem at risk of collapse amid USAID funding halt, analysis finds
The abrupt suspension and partial termination of US foreign assistance to Ukraine is set to create a major funding vacuum across humanitarian, development, and governance sectors, potentially leading to the collapse of the country's aid ecosystem, according to an analysis by Switzerland-based independent information provider ACAPS.
Between 2022 and 2024, US funding accounted for approximately 30% of all coordinated humanitarian response plans in Ukraine. With many of Ukraine's other key institutional donors also signaling reductions in their global aid budgets, the likelihood of filling this funding gap through alternative sources appears increasingly slim, the authors wrote.
On March 10, the US government announced the cancellation of over 80% of USAID programs worldwide. Ukraine, a top recipient of US foreign assistance since 2022, has received over $38 billion overall in non-military aid for humanitarian, development, and governance support. Most of this funding was committed through USAID, which has been present in Ukraine since 1992 and increased its support after Russia's full-scale invasion, the authors wrote.
By the end of 2024, USAID was managing 39 active humanitarian and development programs in Ukraine, totaling $4.28 billion in funding. By late March, however, only about $1.27 billion—roughly 30%—of that funding remained active, according to the analysis. The most significant reductions have impacted the development sector, particularly targeting vital areas such as energy infrastructure, healthcare, economic recovery, media, local governance, and civil society support.
In parallel, at least $322 million in humanitarian funding—supporting 3.5 million people, mainly in the south and east—has been suspended or is at risk of cancellation, the analysis found.
US contributions had been especially vital for multipurpose cash assistance (MPCA), the health response, and shelter needs. With funding for WASH (water, sanitation, and hygiene) and MPCA historically relying on US support for 40% or more of their budgets, major service disruptions are anticipated across all sectors.
INGOs, local NGOs, and civil society organizations report severe consequences due to the cuts: workforce reductions of up to 50%, halted or suspended programs, and widespread administrative leave. A February 2025 survey found that 25% of Ukrainian civil society organizations had cut staff, 19% had placed employees on unpaid leave, and 42% had partially or fully closed programs.
Poor communication from USAID has made the situation even worse. The sudden funding cuts, along with limited information sharing, caused some organizations to stop their programs or let go of staff—only to later be told they could continue. This confusion has made it hard for groups to plan or adjust their work. At the same time, reduced funding for monitoring and data collection has made it harder to understand people’s needs and how well aid efforts are working, the authors wrote.
These funding cuts are happening just as Ukraine's government is struggling and relying more on outside help to keep basic services running. Now, with both government programs and local organizations running low on money, there's growing pressure on the humanitarian system to step in—even though it's also short on resources and unsure about what comes next. If new funding isn't found quickly, the situation could get much worse, according to ACAPS.
Social Media Posts
Debut Workshop to Repair Mine Clearing Equipment
Dmytro Salimonov, general manager in Ukraine of mine clearance firm Global Clearance Solutions, posted that his company has "opened our first service center and unveiled a mobile workshop that will help operators repair GCS demining machines right in the field."
The workshop represents a "first step toward localization, with much more to come! The opening of the center will bring more investment, taxes paid, and new jobs to Ukraine. And it will cut down machine repair times by several weeks."
Chief Digital Transformation Officers Gain New Role
Valeriya Ionan, deputy minister for Eurointegration at the Ministry of Digital Transformation of Ukraine, said the government has expanded the mandate of Chief Digital Transformation Officers, a role created in 2020, making them also responsible for "driving innovation."
"This shift will accelerate the implementation of cutting-edge technologies, foster stronger partnerships between government, business, academia, and civil society — and bring innovation closer to real people’s lives."
Energoatom Meets Hyundai
Energoatom, Ukraine's nuclear power generating company, recapped a meeting with the European leadership of Japanese firms Hyundai Engineering & Construction Co., Ltd. and Hyundai Engineering Co. Ltd. to discuss collaboration.
"The Korean partners also confirmed their interest in Energoatom’s large infrastructure projects, namely the completion of Units 3 and 4 using VVER-1000 technology and the construction of power Units 5 and 6 using AP1000 technology at the Khmelnytskyi NPP. The parties discussed the issue of financial support for the mentioned projects."
UkraineInvest Signs MoU with BGV on Critical Raw Materials
UkraineInvest, the state investment promotion agency, said it signed a memorandum of understanding with mining investor BGV Group Management aimed at attracting international financing for investments in Ukraine's critical raw materials sector.
The cooperation will focus on the BGV Graphite project, which involves the exploration, extraction and processing of critical materials such as graphite," UkraineInvest said.
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