"Ukraine is not only rebuilding what has been destroyed but is already using cutting-edge technologies to shape its future."
Rainer Schnabl, Management Board member responsible for CIB Products & Solutions at Raiffeisen Bank International (RBI), attended the Ukraine Recovery Conference 2026 (URC) held in Gdansk in June. In this interview, he shares his insights from the event and ties them to his experiences he has gained during his years in Bosnia and Herzegovina.
What are your key takeaways from the Ukraine Recovery Conference 2026?
This was my first URC and I was truly impressed. It was fascinating to see how the conference promotes different levels of cooperation – from strategic discussions and commitments between governments and international institutions to practical business projects and investment opportunities.
We visited the exhibition area, where innovative companies showcased technologies that are creating entirely new markets for Ukraine. One of the most impressive examples was the Ministry for Development of Communities and Territories’ AI-powered Reconstruction Intelligence Platform*, which uses artificial intelligence to model the reconstruction of communities, identify investment opportunities and accelerate planning. That shows that Ukraine is not only rebuilding what has been destroyed but is already using cutting-edge technologies to shape its future.
We also met many of our existing clients from Ukraine. It was inspiring to see their businesses, their ambitions and their long-term vision – despite the difficult circumstances they find themselves in.
The strongest impression I took away from URC was the spirit of long-term partnership. The discussion is no longer only about addressing today’s challenges. Ukraine and its international partners are already planning the economy of the future and creating the foundation for long-term investment.
Do you already see real potential for new partnerships and investment projects?
Absolutely. We already see this potential turning into practical cooperation.
We work closely with Ukrainian public institutions as well as Austrian partners supporting Ukraine’s recovery, including the Government Coordinator Wolfgang Anzengruber, WKÖ, OeKB and other institutions that are building the framework for future investments.
Thanks to RBI’s considerable footprint and being the largest international bank active in Ukraine long before the war, combined with our broad product range, we are well positioned to connect international capital, local expertise and the needs of Ukrainian businesses. This will help us transform investment opportunities into real projects.
You have recently returned to Austria after serving as CEO of Raiffeisen Bank in Bosnia and Herzegovina. Are there lessons from this country that could be valuable for Ukraine?
Indeed the experience of Bosnia and Herzegovina– and in general the Balkans – recovering after the war offers certain parallels to the current situation Ukraine is facing. One of the greatest values of Bosnia and Herzegovina’s experience is that today, we can assess the long-term impact of decisions taken immediately after the war. It offers a unique opportunity to learn from another country’s experience and avoid making the same mistakes.
From your experience in Bosnia and Herzegovina – speaking with many clients, entrepreneurs and public officials. What did they most often say about post-war reconstruction – what could be the main learnings for Ukraine?
A reflection I heard repeatedly is the importance of moving very fast with reforms. Quickly creating strong institutions, transparent governance and a predictable business environment is key. Investors look for trust and predictability. Transparent rules, strong institutions, effective risk mitigation instruments, and reliable local partners are all crucial.
Furthermore, the private sector should be involved from the very beginning. In Bosnia and Herzegovina, many successful recovery stories were driven by entrepreneurs and companies that created jobs, restored economic activity and gave people reasons to stay and invest in their communities. Recovery is strongest when public funding and private initiative work hand in hand.
Third, international support is essential, but it delivers the greatest value when it helps mobilize private capital rather than replacing it. Creating bankable projects, clear investment rules and effective risk-sharing mechanisms can unlock significantly larger investment flows over time.
How do you assess your cooperation with international financial institutions, development banks and export credit agencies in supporting Ukraine’s recovery?
Our strong cooperation with supranational institutions, development banks and export credit agencies is one of the key pillars of Ukraine’s recovery. We highly value our long-standing partnerships, particularly in the area of risk-sharing programs and tailored financing solutions, which allow us to support clients even in a challenging environment.
The outcomes of the URC 2026 clearly demonstrate what can be achieved through these partnerships. Together with EBRD, Raiffeisen Bank in Ukraine introduced three new financing instruments, including an additional 50 million euros Risk-sharing Facility, Ukraine’s first First Loss Risk Sharing Mechanism for investment projects, and a new EU-backed War Risk Coverage Grant initiative. In parallel, Raiffeisen Bank in Ukraine signed a Letter of Intent with the IFC to develop a new 100 million euros Risk-sharing Program, which is expected to expand access to financing for Ukrainian SMEs and mid-sized corporates.
One of the most encouraging developments is that these cooperations continuously expand. During the URC, we also talked to institutions from Italy, Germany, the UK and other countries. This demonstrates that our collaboration goes well beyond the markets where RBI operates a subsidiary bank. Moreover, through our Representative Offices we are able to connect clients with financing opportunities across Europe.
What role can international banks play in Ukraine’s recovery?
While we already see many international companies preparing for Ukraine’s future – studying the market, building partnerships and developing investment pipelines – they require predictable and solid economic circumstances. Here, the role of international banks can go beyond being providers of financing. We see our part also in helping clients structure projects, connecting international financial institutions, export credit agencies and private investors, and developing financing solutions that make investments bankable and sustainable over the long term.
* For more information on the Reconstruction Intelligence Platform, please see: https://t.me/OleksiiKuleba