US appoints new special representative for Ukraine’s recovery

The next US Special Representative for Ukraine’s Economic Recovery will be Under Secretary of State for Management and Resources Richard Varma, replacing Penny Pritzker.

Currently, Pritzker is looking for ways to preserve her achievements in the post – regardless of who wins the US presidential election in November, Bloomberg writes.

In addition to providing financial and military support in the war with Russia, the United States decided last year to appoint a special representative to help Ukraine’s economic recovery. Pritzker’s task was to galvanize international partners so that Ukraine could meet its immediate recovery needs.

During the year, Pritzker traveled to Ukraine six times, helped establish war risk insurance, which is necessary for trade across the Black Sea, and held talks with more than 100 American companies about investing in the country.

“There’s an understanding on both sides of what’s at stake,” Pritzker told Bloomberg. ”It’s not just about Ukraine’s sovereignty or Europe’s security or Ukraine’s accession to the EU and NATO, but it has implications for U.S. security.

Pritzker is leaving behind a plan for his replacement, Under Secretary of State for Management and Resources Richard Varma, and others who may take on the role in the future.

The five-step plan, dubbed the “Pritzker Plan,” is aimed at helping Ukraine succeed in raising the more than $480 billion needed to rebuild after the war.

The recommendations presented to Biden last week include the creation of an interagency unit for reconstruction and recovery in Ukraine, which could be under the leadership of the prime minister, and they also include a significant increase in the number of ready-to-go projects in which companies can invest, she said.

“While Penny’s term is limited to one year by law, the work she has begun will continue,” said US Secretary of State Anthony Blinken.

Thanks to her work, “Ukraine is better prepared for its future, integrated with Euro-Atlantic institutions and connected to European and global markets,” he said.