The Ministry of Environment announced the creation of the national company Water of Ukraine shutterstock

The Ministry of Environment announced the creation of the national company Water of Ukraine

Katerina Belousova

The reform will allow attracting 1.4 billion hryvnias for the repair and modernization of water management infrastructure

Minister of Environmental Protection and Natural Resources Ruslan Strilets said that the country will create a national joint-stock company, Water of Ukraine, which will provide transparent market mechanisms for business and affordable, high-quality water for people.

"Water of Ukraine" will also ensure open and effective water monitoring and control over the use of water resources, the Ministry of Environment reports on Telegram.

The creation of Water of Ukraine was announced at the environmental forum United for Nature. Agenda for Ukraine environmental forum.

Strilets emphasized that 2023 was an extremely difficult year for the water sector. In particular, due to the largest man-made disaster since the Second World War – the undermining of the Kakhovka hydroelectric dam by Russians.

"The issue of sustainable water use and "good" water condition is a matter of national security. In the conditions of the military budget, we must find a way of balanced use of water resources and ensure the availability of water for every Ukrainian," said Ruslan Strilets.

It is expected that thanks to the reform of the sector and the introduction of effective management, it will be possible to attract 1.4 billion hryvnias for the repair and modernization of the water management infrastructure. The predicted economic effect of the implementation of the reform will be 1.2% of additional GDP growth annually.

As EcoPolitic reported earlier, in 2022 the Cabinet of Ministers approved the Water Strategy of Ukraine until 2050 and the operational plan for its implementation until 2024. The strategy is designed to solve the main water problems of the country, including equal access to high-quality drinking water, improvement of the ecological state of waters, prevention of droughts, floods, etc.