How much will Ukraine’s reconstruction cost: Shmyhal stuns with amount

The financing for the country’s reconstruction is expected from two key sources: the «Ukraine Fund» and the European Structural Fund for private investments.

Prime Minister Denys Shmyhal / © Telegram/Denys Shmyhal

Prime Minister Denys Shmyhal announced that the reconstruction and modernization of Ukraine could cost $1 trillion over a 14-year period.

The head of government said this during a speech at the ministerial-level Donor Platform for Ukraine meeting within the framework of the Ukraine Recovery Conference (URC).

According to Shmyhal, Ukraine's concept involves creating two funds totaling one trillion dollars:

- The "Ukraine Fund" with $540 billion. According to the World Bank estimate, this is the cost of Ukraine's reconstruction. The fund will be formed through confiscated Russian assets and a special tax on Russia's raw material exports;

- The European Structural Fund to support Ukraine with $460 billion. The prime minister explained that this will serve as a platform for European private sector investments in Ukrainian production.

“I also outlined two strategic tasks ahead of us: to maintain and strengthen sanctions pressure on Russia, and to ensure sufficient financial resources so that Ukraine can counter Russian aggression and the challenges it brings,” Shmyhal wrote online.

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