ISTANBUL

Ukrainian Prime Minister Denys Shmyhal on Thursday presented an ambitious $1 trillion reconstruction blueprint during the ministerial meeting of the Ukrainian Donor Platform at the Ukraine Recovery Conference 2025 in Rome.

The plan outlined two major funds to rebuild the country over 14 years and called for a firm EU commitment to co-finance Ukraine’s defense.

“The first is the ‘Ukraine Fund’ with $540 billion, to be financed through confiscated Russian assets and a special tax on Russian raw material exports,” Shmyhal said on Telegram.

He said the second pillar — a $460 billion European Structural Fund — would be designed to channel private EU investment into Ukraine’s production sectors.

Shmyhal emphasized that maintaining sanctions pressure on Russia and securing sustained financial support remain Ukraine’s top strategic priorities.

“Thanks to joint, coordinated work, we have overcome most financial challenges,” he said, highlighting the successful launch of the ERA financial mechanism and continued IMF-backed assistance.

He also proposed that EU member states co-finance Ukraine’s military, estimating future peacetime defense costs at €50 billion ($58.4 billion) per year, half of which Kyiv hopes Brussels will cover. “A strong Ukraine means a secure Europe,” he added.

In a separate statement, Shmyhal confirmed that Ukraine had received a new €1 billion tranche of macro-financial assistance from G7 partners, funded through profits generated by frozen Russian central bank assets.

Shmyhal hailed the move as “justice in action” and reiterated his call for the full confiscation of Russian assets.