The recovery and modernization of Ukraine will cost one trillion dollars – Shmyhal

The reconstruction and modernization of Ukraine, according to estimates by Ukrainian authorities, will cost $1 trillion over a period of 14 years.

This was stated by Prime Minister Denys Shmyhal during the Ukraine Recovery Conference taking place in Rome.

According to him, Kyiv is proposing the creation of two funds: one for $540 billion, to be filled through the confiscation of Russian assets and a special tax on the export of Russian raw materials; and another for $460 billion funded by investments from the European private sector into Ukrainian production.

“He also outlined two strategic objectives before us: to maintain and strengthen sanctions pressure on Russia, and to ensure a sufficient amount of financial resources so that Ukraine can withstand Russian aggression and the challenges associated with it,” said the Prime Minister.

At the same time, he noted that the meeting also discussed “attracting financial support for 2026 and 2027.”

“We are preparing for different scenarios,” Shmyhal wrote.

As a reminder, a $19 billion budget gap is expected next year.