Reparation of damage caused by the war that has been going on for more than three years will cost over $1 trillion over a period of 14 years, Ukrainian Prime Minister Denys Shmygal said today at a conference on the reconstruction of Ukraine in Rome, quoted by DPA, BTA reports.
Speaking at the conference via video link, Shmygal said that Ukraine is considering the possibility of creating two funds worth about $1 trillion.
One fund, administered by Kiev, should be financed by Russian assets confiscated abroad, worth $540 billion, and the second for $460 billion. The $100 million will come from private investors, he said.
Shmygal called on the country's allies to allocate additional funds to cover the deficit in the Ukrainian budget for 2026 and 2027.
In peacetime and excluding arms production, maintaining the Ukrainian army costs about 50 billion euros ($58 billion) a year, he said, adding that Ukraine is counting on half of that amount to come from the European Union.
Since February 2022, Ukraine has been fighting a full-scale Russian invasion. More than half of its budget is financed from abroad.
Before the war, the country was the poorest country in Europe, according to statistics from the International Monetary Fund, DPA reported.