Over 1 trillion dollars over a period of 14 years will cost the repair of damage caused to over three years of war with Russiaher prime minister said today Ukraine Dennis Smichal in a online speech at the Ukrainian recovery conference, which is being held in Rome.
The prime minister stressed that Ukraine is considering the creation of two funds of about $ 1 trillion in order to recover after serious damage caused by Russia.
A fund will manage Kiev and will have to be funded by Russian assets confiscated abroad of $ 540 billion, while a second – $ 460 billion – will be funded by private investors, he said.
Smichal called on the country’s allies to allocate additional funds to cover the deficit in the Ukrainian budget for the years 2026 and 2027.
Under conditions of peace and without including weapons, the maintenance of the Ukrainian army costs about 50 billion euros a year, he said, adding that Ukraine is based on the fact that 50% of this amount would come from the European Union.
Ukraine is fighting Russian invaders since February 2022. Above its budget is funded by abroad.
Prior to the war, the country was the poorest in Europe, according to data from the International Monetary Fund.