Ukrainian Prime Minister Denys Shmyhal has named three possible sources of finance for a recovery fund for Ukraine after the war.
“There are three possible sources of finance for the recovery fund for Ukraine,” Shmyhal said.
According to him, one is Russian assets, now frozen in the West, which are believed to total at least $300 billion.
“A team of lawyers from the Ukrainian government is already working with foreign governments to make sure these assets can be released and put to use in rebuilding our country after the war,” he said.
Shmyhal added that Ukraine also hoped to receive grants and soft loans from Western countries and international organizations.
“The sectors in need of reconstruction can attract investment from some of the world’s largest companies. We hope that our push for accession to the EU will persuade private investors that Ukraine is an excellent place to be involved in reconstruction. We expect that in June the European Commission will recommend Ukraine for membership and that in two years Ukraine will be a member state,” he said.
Shmyhal stated that the third source of funding for the fund would be the Ukrainian government, Ukrainian businesses and the Ukrainian people themselves.
“We have shown that we are ready to die for our freedom and we know that we will eventually win this war. But victory on the battlefield is only half of the objective. The other half of the victory is to rebuild Ukraine and make it a modern and prosperous European country. We are committed and ready for this, and we ask that the world joins with us in this noble endeavor,” Shmyhal said. (Ukrinform/Business World Magazine)
