Ukrainian President Volodymyr Zelenskyi has said that Ukraine estimates its total losses from the war with Russia at $800 billion and hopes to mobilize these funds through various post-war recovery funds.
The head of state said this while speaking with journalists.
“$800 billion is our overall estimate of losses from this Russian war. This is what we are discussing with our partners,” Zelensky said.
He noted that the draft framework document between Ukraine, the United States, Russia, and Europe on ending the war provided for the creation of several funds to address economic recovery, reconstruction of damaged areas and regions, and humanitarian issues.
“The goal will be to raise $800 billion through equity capital, grants, debt instruments, and private sector contributions in order to help Ukraine fully realize its potential,” Zelenskyi said.
According to him, there is already an understanding of where these funds would come from.
“For example, in Point 9 (of the draft framework document between Ukraine, the U.S., Russia, and Europe on ending the war) on funds: Point A. The U.S. and European countries will establish an equity and grants fund with a target size of $200 billion for transparent and effective investment in Ukraine,” Zelenskyi said.
This provision, he added, also stipulated that Ukraine retained the right to compensation from Russia for the damage caused.
“We mean real compensation for the damage caused by aggression. For example, we already have a European decision on EUR 90 billion in support for the next two years. The Europeans provided an interest-free loan. We are legally tying it so that we will repay the EUR 90 billion to Europe when Russia pays reparations. That is the linkage. At the same time, they gave us the EUR 90 billion, while EUR 210 billion in frozen assets remained,” Zelenskyi said. (Ukrinform)