Ukraine needs US$1 trillion for reconstruction, says Ukraine's PM
The reconstruction and modernisation of Ukraine will cost US$1 trillion over a period of 14 years.
Source: Prime Minister Denys Shmyhal, speaking at a meeting of the Ukraine Donor Platform during the Ukraine Recovery Conference (URC-2025) in Rome
Details: Ukraine has developed a concept that envisages the creation of two funds worth a total of US$1 trillion.
Quote from Shmyhal: "The first is the Ukraine Fund, valued at US$540 billion, as this is the estimated cost of Ukraine’s reconstruction according to the World Bank."
Shmyhal added that this fund will be administered by Ukraine and funded by confiscated Russian assets and a special tax on the export of Russian raw materials.
Quote: "The second is the European Structural Fund to Support Ukraine, worth US$460 billion."
Shmyhal noted that this fund will include investments from the European private sector for the development of production in Ukraine.
Quote: "Projects implemented through these funds will benefit not only Ukraine but also the entire European economy and business."
Shmyhal also highlighted two strategic priorities for the government and Ukraine as a whole: maintaining and intensifying sanctions pressure on Russia, and securing sufficient financial resources to resist Russian aggression.
Shmyhal raised the critical issue of attracting financial support for 2026 and 2027.
Quote: "We are preparing for various scenarios. We propose that our European partners invest in European defence by co-financing the Ukrainian army.
Military expenditure currently amounts to US$100-120 billion. In peacetime, excluding weapon production, maintaining the Ukrainian armed forces will cost €50 billion annually. We expect the EU to cover half of this amount."
Shmyhal added that Ukraine is ready to serve as a guarantor of European security.
Background: Ukraine needs substantial international support, with over US$40 billion in external financing required for 2026.
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