Ukraine is entering the largest investment cycle in its modern history. According to the RDNA5 assessment (World Bank, 2026), the country’s reconstruction needs over the next decade exceed $588 billion—nearly three times Ukraine’s 2025 GDP.
However, according to POWERHOUSE Managing Partner Andrii Okhotnikov, the main constraint is no longer funding but the execution gap—the disconnect between secured capital and the ability to turn it into completed assets. Up to 70% of the critical path for large-scale projects is consumed by the preparation phase, including permitting, land-related issues, stakeholder engagement, and ESG requirements.
Investors are increasingly evaluating not only financial models but also governance quality, project teams, and risk mitigation from the earliest stages of project development. In response to these expectations, a new type of market participant is emerging: the operating partner, responsible for managing the full project lifecycle—from structuring and development to delivery and commissioning.
“The key constraint to development is no longer financing, but the managerial capacity to deliver projects successfully,” Okhotnikov concludes.
Read the full article in Forbes Ukraine:
https://forbes.ua/ru/money/paradoks-vidbudovi-ukraini-upravlinska-spromozhnist-stae-vazhlivishoyu-za-kapital-poglyad-powerhouse-07072026-40054
