European flagship fund for Ukraine’s reconstruction launched in Gdańsk

The European Flagship Fund for the Reconstruction of Ukraine, which could mobilise up to €7 billion in investment for Ukraine's economy, has been officially launched at the Ukraine Recovery Conference 2026.

Source: Ukraine's Ministry of Economy

Details: Economy Minister Oleksii Sobolev said the launch of the fund shows that Ukraine is already attracting investment for reconstruction without waiting for the war to end.

The European Commission has already signed agreements on contributions with three partners to implement €160 million in EU financing under the Ukraine Investment Framework, part of the Ukraine Facility.

Ukraine's Economy Ministry said the governments of each of the partner countries will contribute €15 million. This is the official launch of the fund, with €220 million in first-loss capital available to catalyse a significant volume of private investment in capital-intensive reconstruction projects.

In addition, €45 million will be invested by the fund manager, a consortium of the Amber Infrastructure Group and Dragon Capital. This means that at the launch stage, the Flagship Fund will have €265 million ready to be invested.

The fund will attract private capital with the aim of achieving €500 million at first closing in the coming months, later rising to €1 billion. It is designed as an investment platform capable of mobilising up to €7 billion in investment for Ukraine's economy overall.

Background: The UK government recently confirmed that it would back a £210 million (US$278 million) loan to support stable supplies of enriched uranium by Urenco to Ukrainian nuclear power plants over the next two years.

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