Prime Minister estimates size of United24 fund for country restoration at $600 bln

Ukraine will create a United24 fund to restore the country after Russia's military aggression and estimates its required volume at $600 billion, Prime Minister Denys Shmyhal said.

"The United24 fund will cost about $600 billion," he said at the Ministerial Roundtable in Support of Ukraine as part of the World Bank-IMF Spring Meetings 2022.

The Prime Minister said that it is not only about restoring the destroyed, but also about building a new economy.

"Ukraine's efforts are not enough to restore life normally after such Russian aggression," Shmyhal said.

According to him, Ukraine needs a plan similar to the Marshall Plan after World War II.

He noted that the restoration of Ukraine with the support of the whole world will be a safeguard against such aggression in the future. "If the aggressor knows that the whole world will help, then the desire to start a war will be reduced. Such support will be useful for all our countries," the Ukrainian prime minister said.

Shmyhal estimated the current needs for financing the state budget deficit of Ukraine at $4-5 billion per month, while President Volodymyr Zelensky, speaking before that, said the amount of necessary support is up to $7 billion per month.