Ukrainian government: Cost of post-war reconstruction reaches $750 billion

July 5,2022 443
Ukrainian government:  Cost of post-war reconstruction reaches $750 billion

According to Ukrainian Prime Minister Denys Shmyhal, the recovery of Ukraine after the war will cost an estimated USD 750 billion. Mr Shmyhal asserted that the main source of recovery funding should be the confiscated assets of the Russian Federation and Russian oligarchs.

“Who should pay for the recovery plan, which is already estimated at $750 billion? We believe that Russia’s frozen assets at various evaluations amount to between 300 and 500 billion dollars. The second source of recovery is grants and soft loans from international financial organizations and partner countries. The third or fourth sources are investments from the private sector, as well as extra-budgetary contributions of private individuals and corporations,” stated Mr Shmyhal during the Ukraine Recovery Conference in Lugano.

The Plan for the Reconstruction of Ukraine presented at the Conference puts forth 850 projects and programs for implementation over ten years. The first stage, from 2023 to 2025, requires 350 billion dollars and, if well-implemented, will allow Ukraine to rise to the TOP-40 within indices of Economic Complexity and Human Capital. However, Ukraine has set the goal to enter the TOP-25. The full version of the Reconstruction Plan can be found on the ZN.UA  website.