Ukraine needs over USD 520B for reconstruction, Deputy Finance Minister says

This was stated by Deputy Minister of Finance Oleksandr Kava in an interview with Ukrinform.

“It’s already over USD 520 billion,” the deputy minister said in response to a question about the current government estimate for reconstruction needs.

Kava noted that this is a large sum, which covers not only rebuilding what has been destroyed but also financing projects necessary to modernize Ukraine’s economy. The plan is to raise funds both through frozen Russian assets abroad (which total around USD 300 billion) and from public and private capital.

Public capital, according to the deputy finance minister, will primarily be needed for transport infrastructure and improving citizens' quality of life (such as education and healthcare facilities). These are areas that do not generate direct profit and therefore require state investment. At the same time, such projects can lay the groundwork for attracting private capital and stimulating business development, he added.

Meanwhile, Kava believes private capital will be eager to invest in agriculture, metallurgy, mechanical engineering, IT, and other sectors.

There is currently no unified reconstruction strategy like the Marshall Plan for Europe after World War II, Kava said. However, negotiations are ongoing with various countries on different projects. He mentioned, in particular, the EU's Ukraine Facility plan and joint projects with individual G7 countries.

As reported, the 4th International Conference on Ukraine’s Reconstruction will be held in Rome, Italy, on July 10–11.