Ukraine is launching a monitoring mechanism for international financial support.

The new initiative will be handled by the US Accountability Office and the Government Accountability Office. The goal is a practical interaction between the bodies regarding the preparation of audits, which are meant to ensure the transparency and efficiency of the use of funds coming to Ukraine from its international partners.

In particular, this includes the funds received from the US through the projects and programs of the IBRD. Since the beginning of the full-scale war, the US has provided $16.74B in direct budgetary support to Ukraine in the form of grants, which are, in fact, irreversible financial aid.

Ukrainian and American auditors are jointly preparing a roadmap for these audits. Following the results of a working session in Krakow, there should be a mutual verification of audit approaches, methods, and practices to properly ensure the transparent and effective use of funds of international financial support of Ukraine through a high-quality external audit by the accounting chamber.