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Ukraine will need $1 trillion, 14 years for reconstruction — PM Shmyhal

global.espreso.tv
Thu, 10 Jul 2025 16:55:00 +0300
Ukraine will need $1 trillion, 14 years for reconstruction — PM Shmyhal
Ukraine's Prime Minister stated this during a speech at the meeting of the Ukrainian Donor Platform at the ministerial level within the framework of URC-2025.According to the Prime Minister, it is planned to create the Ukraine Fund with $540 billion, which should be financed by confiscated Russian assets and a special tax on Russian raw materials, as well as a European Structural Fund with $460 billion, which will attract private sector investments from the EU into Ukrainian production.Two main tasks have been identified: strengthening sanctions against Russia and ensuring stable funding to resist aggression.Shmyhal emphasized that Ukraine has already overcome most financial challenges together with its partners, is using the ERA mechanism to access frozen Russian assets, is implementing the IMF program, and has resources to cover the budget deficit in 2025."We discussed attracting financial support for 2026 and 2027. We are preparing for different scenarios. We are offering our European partners to invest in European defense through co-financing the Ukrainian army," the head of government said."Military expenditures are currently$100-120 billion. In peacetime, and without taking weapons production into account, maintaining the Ukrainian army will cost €50 billion per year. We expect that half of this amount will be provided by the EU," he added.In June, UNDP reported that about$524 billion would be needed to rebuild Ukraine over the next decade.
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